By Alexandria Dennise San Juan
Three local transport network companies (TNCs) are expected to enter the ride-sharing industry with the Land Transportation Franchising and Regulatory Board (LTFRB) expected to grant them accreditation to offer the riding public more options.
LTFRB member Atty. Aileen Lizada said that they are just waiting for the three new TNCs to complete the requirements needed for application before being accredited by the board.
“The soonest possible time, because we want competition here. We will work hard na by the end of second quarter nandyan na sila (We will work hard so by the end of the second quarter, they are already operating),” Lizada told reporters at the sidelines of Public Transport Modernization expo earlier this week.
The three companies seeking accreditations from the regulatory board as TNCs are Lag Go, Owto, and Hype, all local companies.
The fourth interested applicant, tech company Picar, will also be meeting with the board this week.
Upon completion of the needed requirements and once accredited by the LTFRB as a TNC, the firms can start their operations in the country.
These new ride-sharing industry players will compete with Grab, which last month acquired the Southeast Asia operations of erstwhile rival Uber.
Lizada stressed that it is important to have a competition in the ride-sharing industry for better services and a chance for other platforms to offer lower rates.
“We need to have other choices. The riding public should also have the options what platform to use,” Lizada said.
Grab Philippines country head Brian Cu said in a statement that the two biggest ride-hailing firms in the country have “come together” to serve the Filipinos better, adding that this was an important milestone in the ridesharing industry.