MANILA -- President Ferdinand R. Marcos Jr. is looking forward to partnering with Viet Nam and learn from their electronic vehicle industry as the Philippines aspires for electric vehicles to penetrate 10 percent of the country’s road transport by 2040.

In his meeting with Vietnamese Prime Minister Pham Minh Ching, President Marcos said that the introduction of electric vehicles to the country’s transport sector would lead to a five percent aggregate energy savings from oil and electricity.

“With the Philippines’ implementation of a Comprehensive Roadmap and the Electric Vehicle Industry Development Act (EVIDA), we hope to drive the growth of the Philippine EV industry,” President Marcos told the Prime Minister.

“I trust that Viet Nam would be the Philippines’ willing partner in this endeavor, and we are eager to learn from Viet Nam and from your good experiences,” the chief executive added.

Before this, President Marcos and some Philippine business leaders met with the VinGroup Company, a multi-sector corporation that focuses on technology and industry, trade and services, and social enterprises,. The said company expressed interest in the country’s EV battery production.

President Marcos said that the transition of the Philippines to electric vehicles “will be a long-term multi-sectoral and multi-stakeholders process” that needs the strong support of both the private and public sectors.

The chief executive expressed optimism that the cooperation between the Philippines and Vietnam, and the rest of the Association of Southeast Asian Nations (ASEAN) member-countries would make “the circular economy a reality” in order to save the region’s natural resources and growing economies. (PND)