LTFRB: 19 ride-hailing companies approved
There are 19 accredited transportation network companies (TNC) competing for the more than 70,000 slots as transport network vehicle service (TNVS) providers to address the expanding demand for ride-hailing and delivery services in the country.
Fourteen of these were accredited by the Land Transportation Franchising and Regulatory Board (LTFRB) in 2023 and 2024 as TNCs effective for two years.
On June 14 this year, among those approved by the LTFRB were Aztech Solution International Corp. (operating Snappy), PureRide Corp., and Unla La Corp.
The other recently accredited TNCs were Angkas Technologies, Get Express Global Corp., GoCab Corp., Hail Transport Inc., Leggo Information Technology Solutions, Metrohills Transport Association Inc., Para Xpress Technology Services Inc., Peek Up Philippines Corp., RL Soft Corp., Taxsee Philippines Inc., and Unified Transport Operations League Corp.
Five TNCs had their accreditation renewed also for two years: Joyride PH Corp., Cloud Panda PH Inc. (Toktokgo), E-Pick Me Up Inc., Hirna Mobility Solutions Inc., and Grab Philippines, which is currently the dominating ride-hailing and delivery-service provider among TNCs.
In a statement on Sunday, LTFRB Chair Teofilo Guadiz III said the accreditation of more TNCs was in line with their mandate “to ensure that the riding public continues to benefit from advancements in transportation services.”
The LTFRB has also released new TNVS slots “to support the expanding ride-hailing market.”
The regulator, however, did not respond if it would finally implement Board Resolution No. 34, series of 2024, issued in March, which approved the opening of 10,000 TNVS slots for Metro Manila and nearby provinces in Luzon.
Fears of traffic congestion
The LTFRB indefinitely postponed the awarding of the slots in April, following opposition from transport groups due to fears of worsening traffic congestion in the region.
As of March, only 32,000 TNVS slots were filled out of the 65,000 units common supply-base for Metro Manila (and nearby areas) determined by LTFRB back in 2018.
In May, the LTFRB issued Board Resolution No. 57, series of 2024, opening 2,550 additional TNVS slots in the Visayas, and 2,500 more TNVS slots in Mindanao, based on the island groups’ population and tourist data.
Transportation Secretary Jaime Bautista emphasized the importance of a diversified and competitive ride-hailing market in order to provide safe, reliable and affordable transportation options for all Filipinos. INQ
