BANDAR SERI BEGAWAN, March 22 (Xinhua) -- Brunei will be introducing a fuel economy regulation to reduce the country's carbon dioxide emissions and fuel subsidies.

Minister of Energy, Manpower and Industry Hj Mat Suny said they will work with the Ministry of Transport and Infocommunications to come out with the regulation that is expected to be launched in 2023.

"It will be enforced in stages. The first phase will be enforced in 2025 and the second phase in 2030," said the minister during Thursday's Legislative Council meeting.

He added that the sultanate plans to introduce a pilot project to have at least 10 percent of electric vehicles by 2035.

Hj Mat Suny revealed that Brunei has saved more than 1.4 million Brunei dollars (1.04 million U.S. dollars) in subsidies and reduced carbon dioxide emissions by 4,361 metric tons following the introduction of hybrid vehicles and fuel-efficient vehicles.

As many as 1,960 fuel-efficient and hybrid cars have been registered in Brunei since 2012, he said.

"The savings in subsidies and reduction of carbon dioxide emissions will definitely provide a positive effect on the economy and the environment," he added.

Brunei's Land Transport Department places the number of registered vehicles in the country at 148,000 as of 2014, or around one vehicle for every 2.8 Bruneians. The department also notes that car ownership in the sultanate grows at a rate of 9 percent per year.