Time to regulate Uber, Grab given their dominant role today

THAT Singapore could soon impose regulations on private-hire car services Uber and Grab may seem like a clamp down on disruptors. Both of which have transformed the transport industry here in the last five years. But regulations in this case are in fact a reflection of an economy that embraces innovation and refuses to be controlled by big entrenched companies such as ComfortDelGro.

This week, Second Minister for Transport Ng Chee Meng announced in Parliament that private-hire car services could be regulated and even subject to licensing in the future to protect the interests of commuters and drivers, as the government undertakes a review of the point-to-point transportation sector.

He also acknowledged the growing dominance of Uber and Grab, which have each expanded their networks by partnering homegrown taxi firms. He assured that the government's review will look into ensuring that the ride-hailing market remains "open and contestable", and that no one single player will dominate the industry to the detriment of commuters and drivers.