MANILA - Franchise applications for ride-sharing vehicles will be reopened on Feb. 5, regulators said Friday, as they sought to fill up to 45,000 slots.
Roughly half, or 12,000 of the 45,000 slots, are filled up by existing franchise holders and those with pending applications, the Land Transportation Franchising and Regulatory Board said.
The vehicles must be owned by Filipinos and must not be older than 3 years. The car owner must have P50,000 deposited in the bank as proof of income and the vehicle must have its own garage, said LTFRB technical division chief Joel Bolano.
Accreditation from the LTFRB will be a requirement before drivers can get accredited by Uber or Grab, which the government calls TNCs or transport network companies.
The 45,000 cap on accredited ride-sharing vehicles can meet current demand plus an "allowance," said LTFRB Chairman Martin Delgra.
"I would like to make it very clear hindi po ito arbitrary (this is not arbitrary). This has been a product of a series of technical working group meetings and the data they have given us," he added.