Indonesian ride-hailing firm Go-Jek says to expand abroad

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May 23, 2018 9:23 PM EDT

A Go-Jek driver rides a motorcycle on a street in Jakarta, Indonesia, December 15, 2017. REUTERS/Beawiharta

SINGAPORE (Reuters) - Indonesian ride-hailing and online payment firm Go-Jek on Thursday said it would enter Vietnam, Thailand, Singapore and the Philippines in the next few months, investing $500 million in its international push.

The move will start with ride-hailing services before expanding to other sectors, Go-Jek said in a statement.

"People in Vietnam, Thailand, Singapore and the Philippines don't feel that they're getting enough (choice) when it comes to ride-hailing," CEO Nadiem Makarim said in the statement.

The announcement comes after Uber Technologies Inc [UBER.UL] sold its Southeast Asian operations to local competitor Grab.

Go-Jek said it was working with regulators and other stakeholders across the region to prepare for the new operations.

The expansion follows Go-Jek's latest round of fundraising, which brought investment from companies including Astra International, JD.COM, Tencent and Temasek.

(Reporting by Jack Kim and Aradhana Aravindan; Editing by Edwina Gibbs and Joseph Radford)


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