A commuter books a vehicle via ride-hailing app Grab in Manila. (File photo by RICHARD A. REYES / Philippine Daily Inquirer)
MANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) has given the go-signal for an additional 100,000 vehicles to be registered as transport network vehicle service (TNVS) under Grab Philippines.
LTFRB Chair Teofilo Guadiz III in a statement on Friday said they would increase the number of units to be granted a franchise depending on the passenger’s need.
“Initially, 100,000 and increasing further in three-months’ time. We may increase the number until such time that the number of TNVS matches the needs of the riding public,” he said.
The LTFRB said the approval comes after the “investment pledge” of Grab that would generate 500,000 additional jobs for Filipinos.
As President Ferdinand Marcos Jr. met with Grab Philippines CEO Anthony Tan on Thursday, Malacañang said the ride-hailing firm committed to generating 500,000 new jobs.
Tan said Grab’s motorcycle taxis amount to around 4 to 5 million rides daily and it was just a matter of “unshackling things” that would let the company grow bigger.
Market saturation
“Five hundred thousand new jobs with the creation of 100,000 motor vehicles both in 4-wheeled and motorcycle taxis. But 100,000 is the initial, we won’t give it all to prevent saturation in the market,” Guadiz said.
Aside from this, the LTFRB chief underscored that the agency would also aim to provide franchises to other motor vehicles across the country, including the cities of Bacolod, Iloilo, Cebu, and Davao.
He said they would also issue two memorandum circulars containing the regulations and qualifications for the drivers.
“Those are just normal qualifications. First, a professional driver’s license, and second, a seminar of 15 hours. The seminar is more on road safety to ensure that there would be minimal accidents on the road, especially motorcycle taxis,” Guadiz said.