THE government is aiming to finish the Public Utility Vehicle Modernization Program (PUVMP) as quickly as possible, President Ferdinand “Bongbong” Marcos Jr. said Monday, Jan. 29, noting that it will leave the market open when it comes to electric vehicles and components.
Marcos made the remark during his meeting on Monday evening with Vingroup Company in Hanoi, Vietnam as part of his two-day state visit there.
âThe Vingroup is well-known in the Philippines because we have⌠we are very much aligned of what we would like to do in the future in terms of electrical vehicle battery production,â Marcos said.
The President added: âWe are in the middle of our modernization program essentially meaning we are going to replace all our conveyances, buses and we have (a) particular type of transport jeepneys.â
Marcos told Vingroup executives, led by Chairman Pham Nhat Vuong and Vice Chairman and CEO Nguyen Viet Quang, that at present the specification to those vehicles is being finalized.
He also mentioned that the government is in the process of consolidating the operators and drivers into cooperatives.
Days before leaving for Vietnam, Marcos approved the recommendation of Transportation Secretary Jaime Bautista to give unconsolidated jeepneys three more months, or until April 30, 2024, to join or put up transportation cooperatives or corporations for the modernization program.
The deadline ended on Dec. 31, 2024 and was followed by a monthlong grace period, or until January 31, 2024.
According to the Presidential Communications Office (PCO), Vingroup’s subsidiary Vinfast is registering in the Philippines to be in electric vehicle (EV) marketing, energy storage and nickel processing partnerships.
Vingroup is one of Vietnamâs leading private enterprises, according to PCO.
The PCO said multi-sector Vingroup focuses on three core pillars: technology and industry, trade and services, and social enterprise. (GMA Integrated News)
