In a strategic move to revolutionize the public transport sector, President Ferdinand Marcos Jr. is actively pursuing potential investment from the Vietnamese conglomerate, VinGroup Company, particularly focusing on the production of batteries for electric vehicles (EVs). This initiative is a crucial part of the country’s Public Utility Vehicle Modernization Program (PUVMP), aimed at upgrading and modernizing public transport vehicles, including the iconic jeepneys.
During his state visit to Vietnam, President Marcos engaged in discussions with top executives from VinGroup, indicating the Vietnamese firm’s keen interest in contributing to the Philippines’ ambitious modernization efforts. The President underscored the alignment of objectives between the Philippine government and VinGroup, particularly in the arena of electric vehicle battery production, a critical component in the transition towards more sustainable and environmentally friendly transportation options.
The PUVMP, currently in progress, involves comprehensive updates to the specifications of public transport vehicles and the consolidation of franchises. President Marcos emphasized the importance of keeping the market open to suppliers to expedite the modernization process. The administration’s commitment to this program is evident, despite some resistance from jeepney drivers and operators concerned about the affordability and accessibility of vehicles that comply with the government’s new standards.
As the deadline for the consolidation phase approached, President Marcos reiterated the non-negotiable continuation of the PUVMP, underscoring the imperative to advance the nation’s transport infrastructure and meet the evolving needs of the public, without succumbing to the pressure of minority groups opposed to the changes.