Minister queried on elevated Yandex.Taxi fares
In the bustling streets of Kazakhstan, local drivers work tirelessly in various regions, but it's the big players that dominate in Almaty and Astana. Among them, Yandex.Taxi stands out, causing a stir due to allegations of monopolistic practices and pricing policies.
The Kazakhstan taxi market is currently under scrutiny, with the Ministry of Transport publicly advocating for more competition. Minister Nurlan Sauranbayev has expressed his concerns about the monopoly in the taxi market and has stated that additional companies entering the market can help regulate prices.
One such company aiming to shake up the market is Bolt, a Baltic firm that recently entered Kazakhstan, starting with electric scooters and planning to move into taxis. Another competitor, Chinese DiDi, has also made a foray into the Kazakhstan market, but has yet to make a significant impact.
The competition isn't just limited to these new entrants. InDriver, another player in the Kazakhstan taxi market, is also giving Yandex.Taxi a run for its money. However, despite the efforts of these companies, they find it challenging to gain ground due to tough market conditions and structural barriers.
Yandex.Taxi's pricing strategies have come under fire, with an audit in July revealing risks of overpricing and reducing drivers' income. This criticism, coupled with calls for regulatory action, has put Yandex.Taxi under pressure to comply with antimonopoly laws and make changes to its operations.
The Agency for the Protection and Development of Competition is responsible for fighting possible monopolies, and they are keeping a close eye on the developments in the Kazakhstan taxi market.
Minister Sauranbayev has expressed his liking for Yandex's service but has emphasised the need for more choices in the market. In talks with other companies, he is working to provide the Kazakhstan population with a broader range of options in the taxi market.
The taxi market in Kazakhstan is a dynamic and evolving landscape, with the entry of new players and the ongoing challenges faced by Yandex.Taxi. As the market continues to develop, it will be interesting to see how the competition unfolds and whether new entrants can successfully challenge Yandex's dominance.
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