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| LTFRB Rejects Ride-Hailing Firm Go-Jek to Operate in PH |
Although Go-Jek filed an application through its subsidiary Velox Technology Philippines, LTFRB explained that the company still failed to meet the 60% Filipino ownership requirement.
Meanwhile, this wasn’t the first time that LTFRB denied Go-Jek to launch their service in the country. In January, they rejected its application for being 99.99% owned by Velox South-East Asia Holdings.
As of today, Grab Philippines still dominates the ride-hailing industry in the country with 49,000 active drivers under its banner. While there are several ride-hailing firms allowed to run on the local road, we all know that they still need to strengthen their presence in the market.
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In the country, ride-hailing companies include Grab, MiCab, Hirna, Owto, GoLag, ePickMeUp, Snappy Cab, and Ryd Global.
What can you say about the decision of LTFRB? Let us know what you think!
Source: Rappler