Grab chief executive Anthony Tan, second from left, and Finance Minister Sri Mulyani Indrawati, second from right, pose for a photo during the launch of the Grab for Good program in Jakarta on Tuesday. (B1 Photo/Herman)

Grab Contributes $5.8b to Southeast Asian Economy Annually, CEO Says


SEPTEMBER 24, 2019

Jakarta. Singapore-based transportation network company Grab is determined to continue the momentum of its impressive progress in Southeast Asia, where it has contributed billions of dollars to the regional economy, its boss said in Jakarta on Tuesday. 

"Over the past seven years, Grab has grown from a small scrappy startup offering taxis on demand, into a company operating in eight countries and 339 cities and employing thousands in our offices," Anthony Tan, the company's chief executive and co-founder, said during the launch of the Grab for Good program.

"It is estimated that Grab contributed $5.8 billion to Southeast Asia's economy in the 12 months to March this year, fueled by our micro-entrepreneurs," he added.

The company said audit firm KPMG had verified this estimate.

Tan said during the launch, also attended by Finance Minister Sri Mulyani Indrawati, that Grab's presence had greatly assisted job creation in Southeast Asia. 

"More than 21 percent of Grab driver partners did not work prior to joining Grab, while in Indonesia, more than 31 percent of agents had no income prior to joining our Kudo network," he said.

Collaboration With Microsoft

The app-based economy has transformed the way people do business, but few in the region know how to embrace it, Tan said, adding that Grab would get support from American multinational technology firm Microsoft under their digital literacy partnership.

"I am pleased to announce support from our strategic partner, Microsoft," he said. "Grab and Microsoft will work together to upskill Grab driver partners and place them in technology careers. We will also work together to train the next generation of digital workers," he said.

The Grab for Good program is a multi-year plan with measurable initiatives and partnerships, aimed at helping people in Southeast Asia embrace the digital economy.

"We are doing this because we believe in the opportunities of the digital economy and the benefits of access afforded by technology," Tan said.

Sri Mulyani praised Grab's initiatives and said every person in the region had an equal opportunity to benefit from the digital economy. 

"On our part, the government continues to develop internet infrastructure, including the Palapa Ring project, to support development of the digital economy. The Ministry of Communication and Information Technology also plans to launch its own satellite," the minister said.