THE Land Transportation Franchising and Regulatory Board (LTFRB) said Friday that it issued certificates of public convenience (CPC) to two new transport network companies (TNCs), paving the way for them to start operations.
These two companies are Aztech Solution International Corp. and RYD Global Inc, owners of the ride-hailing apps SnappyCab and RYD Global, respectively.
The LTFRB did not say when the companies plan to launch their apps.
According to LTFRB, SnappyCab will operate in Metro Manila, while RYD Global will operate in Metro Manila and other regions.
That brings to eight the accredited TNCs: Ipara Technologies and Solutions Inc, Hirna Mobility Solutions Inc, Hype Transport Systems, Inc, Micab Systems Corp., E-Pick Me Up Inc, GoLag, as well as Aztech Solution and RYD Global.
The LTFRB also said that the accreditation of Grab Philippines which has the biggest share of transport network vehicles (TNVS) has yet to be renewed. Grab Philippines in April acquired the Southeast Asian business of its rival company Uber, leaving it alone in the market until new TNCs were approved in June.
The common base supply for TNVS is still capped at 65,000 units in Metro Manila, 1,500 units in Metro Cebu, and 250 units in Pampanga. — Reicelene Joy N. Ignacio