News Release

PBBM gets big investment pledge from Grab that entails 500K new jobs

President Ferdinand R. Marcos Jr. has secured an investment commitment from ride-hailing service Grab, which could translate into 500,000 jobs.

The President met with officials of Grab Holdings Inc. on February 2, Thursday, in Malacañang Palace to discuss Grab’s recommendations on the possible ways to modernize transportation in the Philippines.

During the meeting, Anthony Tan, Grab CEO and co-founder, promised to create jobs in the country, assuring the President that his company will deliver.

“Well, that is what we need. At the very start of all of this, we had always stressed that what we have to do is create jobs right now. Because so many businesses closed, so many people really have no place to go, even the OFWs. So… we need to find jobs,” President Marcos said in response to Tan.

“So we’ve been able to do that but it’s still continuing… because our unemployment rate is not bad, but we’d like to keep bringing it down,” Marcos said.

According to the President, his government has created approximately close to 2 million jobs since, resulting in a drop in the country’s unemployment rate.

This is the reason why the chief executive is very much interested in Grab’s proposal so there could be an immediate effect on employment generation.

“That’s why I’m in a hurry. If we can roll this out as quickly as possible. And I know the way Grab moves, they move very, very quickly. Because you’ve done it so many times before. In the scale, you don’t have to scale it. You’ve scaled it already,” Marcos said.

Grab’s motorcycle taxis do four, five million rides a day, Tan told the President, adding it’s just a matter of unshackling things so the company could soar further.

The ride-hailing service company needs to find a way how to create jobs, not only in Manila but also in Davao, Cebu, and Iloilo, Tan said.

Congress has to enact a law to create the rule for motorcycle taxis or for the two-wheel side after the country adopted a law for four-wheel transport, transport officials said.

Various bills were proposed to regulate and legalize the operation of motorcycle taxis as public utility vehicles to ensure the safety and protection of the stakeholders.

Grab, which started operations in the Philippines in July 2013, is proposing the legalization of motorized taxis, noting that the pilot testing of motorized taxis is already operational for four years.

The law prohibits the use of motorcycles to transport passengers or freight but requests to review the policy and allow motorcycles as a form of public transportation prompted the transportation department to pilot test the operation of motorcycle taxis within Metro Manila and Metro Cebu in 2019. #