Grab's investment pledge to create 500K new jobs, says Palace

At least 500,000 new jobs are expected to be created with investments committed by ride-hailing firm Grab Philippines, Malacanang said on Wednesday

In a statement, the Presidential Communications Office (PCO) said Marcos met with Grab CEO Anthony Tan on Grab's recommendations on the "possible ways to modernize transportation in the Philippines."

"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," the President said in response to Tan.

According to Tan, Grab's motorcycle taxis generate four to five million daily rides, adding it's just a matter of "unshackling things" so the company could soar further.

The ride-hailing firm said it should also find ways to create jobs not only in Manila but also in Davao, Cebu, and Iloilo.

Several bills are pending in Congress to regulate and legalize the operation of motorcycle taxis as public utility vehicles to ensure the safety and protection of the passengers.—Sherylin Untalan/LDF, GMA Integrated News