LTFRB to grant addt’l 100K Grab franchises

MANILA: The inclusion of 100,000 additional vehicles to be registered as transport network vehicle service (TNVS) under Grab Philippines has been approved by the Land Transportation Franchising and Regulatory Board (LTFRB).

LTFRB Chairman Teofilo Guadiz III said in a statement that the decision was taken to help meet TNVS passenger demand.

According to Guadiz, this will rise further in three months. He added that the agency will continue to increase the number until the needs of the riding public are met by the number of TNVS.

In a meeting with President Ferdinand Marcos Jr. on Thursday, Grab Philippines vowed to create 500,000 more jobs for Filipinos.

The TNVS provider, however, clarified that it will not all be available right away to avoid market saturation.

TNVS franchises will also be provided to prospective drivers in Bacolod, Iloilo, Cebu, and Davao.

To get a TNVS franchise, interested drivers must have a professional driver's license and complete a 15-hour seminar on road safety.

According to Guadiz, additional requirements will be announced in a memorandum circular soon.

Photo from Grab Philippines

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