Vietnam's newest ride-hailing app Be gets funding ahead of launch

A number of local taxi companies in Vietnam have come together to compete against ride-hailing firms such as Grab.

Vietnam's newest ride-hailing player Be said it secured "hundreds of millions US dollars" of investments as it gets ready for launch next week to compete with regional players such as Grab.

As Singapore-based Grab and Indonesia's Go-Jek expanded across Southeast Asia with a wide range of services, the region has become a battle field for the two rivals following Uber's exit from the market of over 600 million people.