3 ride-hailing firms up for accreditation, says LTFRB

At least three new players could enter the ride-hailing service industry once the Land Transportation Franchising and Regulatory Board (LTFRB) completes the processing of their applications, a top official of the board said Wednesday.

“There three other TNCs that are up for accreditation and are just complying with requirements. These are Lag Go, Owto, and Hype,” LTFRB Board Member Aileen Lizada told reporters in a press briefing in Quezon City on Wednesday.

Lizada emphasized that Grab Philippines will not dominate and monopolize the ride-hailing industry after its Singapore-based parent company acquired regional rival Uber.

Uber Technologies has agreed to sell its Southeast Asian business to Grab, the Transport Network Companies (TNCs) said in a separate statement on Monday.

"If you say that there is no competition soon there will be ... and any competition is good for any industry because it benefits the riding public,” the Lizada noted.

Lizada said the new TNCs have presented proposals, fare structures, and business models to LTFRB and are now complying with other regulatory requirements.

“We want to see that when you book a ride we will see the name of the driver, the type of car, plate number ... So the basic things,” she said.

The upcoming industry players will source drivers from the common base of 65,000 transport network vehicles services (TNVS) drivers pooled by LTFRB.

Right now, only 59,000 of the 65,000 TNVs are servicing the bookings of passengers, Lizada noted. —VDS, GMA News