P2P structure, regulatory framework under review
The Land Transport Authority said its review will focus on three objectives.
The Land Transport Authority is reviewing the availability, resilience and inclusivity of Singapore’s Point-to-Point (P2P) industry.
In an announcement, LTA underscored that the P2P sector has “evolved significantly” since the implementation of its current licensing framework in October 2020.
“There is a growing preference for ride-hail services among commuters and drivers due to its matching efficiency and ease of booking through mobile applications. This decrease in demand for traditional taxi services has resulted in fewer taxis plying the streets,” the LTA said.
“At the same time, taxis retain an important role in serving high-demand locations such as Changi Airport, tourists and commuters who are less technologically savvy,” it added.
Helping LTA in its review of the sector’s structure and regulatory framework are taxi and ride-hail operators, the National Taxi Association, and the National Private Hire Vehicles Association.
LTA’s tripartite partners also discussed the adoption of cleaner-energy vehicles and the importance of encouraging gracious behaviour among drivers and commuters.
LTA plans to complete the review by the second quarter of 2024.