JAKARTA. PT GoTo Gojek Tokopedia Tbk (GOTO) finally decides to depart pull back from Vietnam, effective starting September 16, 2024, after operating since 2018.

RA Koesoemohadiani, Corporate Secretary of GOTO, said that this decision is a part of GOTO’s strategy to maintain focus in developing and improving operational activities that will potentially lead to significant growth.

“This business decision will not generate negative material effect on operational activities, business performance, and financial condition of Gojek in general,” added Koesoemohadiani in the official statement.

Koesoemohadiani further said that Vietnam is a fragmented market for GOTO, and further exacerbated by many competitors in the transportation and food delivery segments.

Vietnam contributed less than 0.5% of Gross Transaction Value (GTV) of GOTO in Q2 2024. In addition, Vietnam also contributed 2% of GTV of the company in this period. (KR/ZH)