NEW YORK, Aug. 20, 2015 /PRNewswire/ -- 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 the People's Republic 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.
To download the HailYes™ Partners app, visit Google Play or use the following link: http://bit.ly/1Hghpeo
To download the HailYes™ app, visit Google Play or use the following link: http://bit.ly/1O3DDAT
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. For more information on World Moto, please visit World Moto's website at www.worldmoto.com.
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This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, release of HailYes™ apps, global ride-hailing market, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's EDGAR database.
SOURCE World Moto, Inc.