Grab to invest US$100 mil in Myanmar as smartphone use surges

SINGAPORE (Aug 25): Grab, Southeast Asia's biggest ride-hailing app, plans to invest US$100 million ($136.1 million) in Myanmar as it extends its battle with Uber Technologies to capture exploding use of smartphones.

Grab will invest the money over the next three years and work with local governments to expand ride-hailing to more cities and roll out services such as its in-app digital payment feature GrabPay, President Ming Maa said.

It will grow its workforce in Myanmar about fivefold to 200, he added.

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