Indonesia-based ride-hailing and delivery service app Gojek has decided to exit Vietnam from September 16 as a step towards focusing its operations in major markets with higher growth potential.

According to market researchers, Grab has maintained its position as the largest player; however, Vietnamese companies such as Xanh SM and Be have also grabbed market share.

Companies in the ride-hailing industry are focusing on launching new services and making new investments.

The rise in travel and tourism and the emergence of a young and tech-savvy population have further fuelled the adoption of ride-hailing services.