In photo (L-R): BOI-Executive Director Evariste M. Cagatan and GSM Global CEO Mr. Thanh Nguyen

Vietnamese ride-hailing firm Green and Smart Mobility Joint Stock Company (GSM), a private company of Mr Pham Nhat Vuong – the owner of Vingroup (one of the largest conglomerates in Vietnam), has expressed interest in entering the Philippine market and is rapidly moving forward with its plan to establish its operations in the country. The company aims to provide eco-friendly taxi services utilizing VinFast electric cars exclusively in 2024. This electric taxi service underscores GSM’s commitment to promote sustainable EV transportation in the region.

Vingroup, along with GSM, is one of the companies that President Ferdinand Marcos Jr. and DTI Secretary Alfredo Pascual met during the Presidential Visit to Vietnam in January 2024. The company’s planned project is aligned with the government’s direction in attracting sustainability-driven investments, particularly in our transition towards electric mobility. ♦

In photo: Vingroup chairman Pham Nhat Vuong (left side) presents Vingroup’s plans to invest in the Philippine market at a meeting with Philippine President Ferdinand Romualdez Marcos Jr. and DTI Secretary and BOI Chairman Alfredo E. Pascual in Hanoi, January 29, 2024. Photo: D.H. / Tuoi Tre

Date of release: 26 March 2024