World Moto, Inc. (OTC: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) (“World Moto” or the “Company”), a leader in advanced solutions for motorcycle taxis and on-demand transport, today announced that it will meet with several senior officials from the Information and Communication Technology Department (ICT) of Bangladesh, as well as senior corporate executives from major Bangladeshi technology companies, during a meeting scheduled for Thursday, August 20, 2015.
“With a population of 156 million, Bangladesh is the 44th largest economy in the world and the second-most pro-free market country. Moreover, the city of Dhaka alone has approximately 60,000 auto rickshaws and 600,000 cycle rickshaws, the majority of which are operating without legally-mandated fare meters,” said Paul Giles, CEO of World Moto. “When combined with the country’s budding motorcycle taxi industry, it is clear that Bangladesh represents a tremendous opportunity for World Moto—especially as the number of auto rickshaws and motorcycle taxis is expected to increase.”
Giles continued, “We look forward to establishing a positive relationship with the Bangladeshi government as we continue to raise visibility of our products and achieve our strategic growth objectives.”
The purpose of the meeting stems from an initiative launched by the Bangladeshi government to investigate opportunities for licensing technology from select Thai companies. As part of its “Digital Bangladesh” campaign, the ICT is encouraging democracy, human rights, transparency, accountability, and ensuring delivery of government services to the citizens of Bangladesh through the use of technology. Senior Bangladeshi government officials will receive a private demonstration of World Moto’s major product lines during the meeting.
About World Moto
World Moto is a technology company that designs, manufactures, markets and sells Moto-Meter products, devices that provide moto-taxi fare metering and other communication capabilities. The Company’s Moto-Meter patents have been granted in 4 countries, with applications pending in another 56 jurisdictions. World Moto’s products and services include the Moto-Meter™, arguably the world’s first motorcycle taxi meter, Wheelies™, which display static and streaming media content on the wheels of motorcycles and automobiles, and Yes™, an e-hailing and on-demand services app.