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Mr Conway was speaking on Wednesday at the Northern Ireland Assembly’s infrastructure committee, which was discussing the traffic disruption.
When asked about taxis using bus lanes, the Translink chief executive said he would “not make too many comments on that”.
“I have concerns about it, but I understand why the minister had to make that decision at the point in time he did it,” he added.
Mr Conway said it would take time to “before you could really assess whether there was a positive or negative impact”.
“I know cyclists are concerned about it because obviously the bus lanes are obviously used for cyclists as well, and that’s one of the concerns from a safety perspective,” he added.
“But I think we’re of the view, let’s wait and see and see how it works out.”
He told members of the legislative assembly (MLAs) that “taxis do play an important role in terms of supporting public transport”.
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