Rubber cultivation critical to development in northwest

The Vietnam Rubber Group held a ceremony in Lung Thang commune of Sin Ho district, Lai Chau province, on October 17 to mark nine years of a rubber development project in northern mountainous provinces
Rubber cultivation critical to development in northwest ảnh 1Politburo member Nguyen Van Binh (front, second, right) talks to workers of the Lai Chau Rubber Joint Stock Company (Photo: VNA)

Lai Chau (VNA) – The Vietnam Rubber Group held a ceremony at a plantation in Lung Thang commune of Sin Ho district, Lai Chau province, on October 17 to mark nine years of a rubber development project in northern mountainous provinces.

Developing rubber cultivation in the northwestern region is a right direction of the Party and State that aims to make an economic breakthrough. It is expected to eliminate poverty, create jobs, protect the environment and ensure defence-security in the region, said Politburo member Nguyen Van Binh, Secretary of the Party Central Committee and Chairman of the committee’s Commission for Economic Affairs.

Binh, who is also head of the Steering Committee for the Northwestern Region, also praised efforts by the authorities and people of Lai Chau and the Vietnam Rubber Group in expanding rubber plantation there.

Northwestern provinces, including Lai Chau, own favourable conditions for cash crop production, such as large natural area, temperate climate and fertile land. The expansion of rubber farming there also looks to help residents displaced by hydropower projects to settle down, he added.

He asked relevant ministries and central agencies to issue specific policies supporting rubber cultivation in Lai Chau and assist investors to tap into local agricultural and forestry potential.

Binh told Lai Chau authorities and the Vietnam Rubber Group to encourage local residents to enter into contracts with the firm’s subsidiaries. Meanwhile, land that is unsuitable for rubber cultivation should be used for growing other plants to avoid wastefulness.

Lai Chau province is now houses some 12,800ha of rubber trees invested by three companies, along with another 13,860ha owned by local people. Nearly 2,300 people, mostly ethnics, are working in rubber farming projects.-VNA

VNA

See more

HCM City is now a regional specialised financial centre (Photo: VNA)

Vietnam should be flexible in selecting financial centre models: expert

Tuan also highlighted the importance of human capital, one of the five important factors to successfully build a financial centre, citing the Global Financial Centres Index, which ranks business environment, human capital, infrastructure, market development, and reputation as the key drivers of success.

Minister of Industry and Trade Nguyen Hong Dien (L) and US Secretary of Energy Chris Wright in Washington D.C. on March 13. (Photo: VOV)

Vietnam, US look to strengthen comprehensive energy cooperation

Vietnam’s consistent policy is to foster a balanced, sustainable, stable, and win-win economic relationship with the US, the minister stated. Vietnam does not intend to create any barriers that could negatively impact the US’s workers or its economic and national security, Minister of Industry and Trade Nguyen Hong Dien said.

Deputy Prime Minister Nguyen Chi Dung speaks at the first meeting of the steering committee for the building of a project on the private economic sector's development in Hanoi on March 15. (Photo: VNA)

Private sector's development key to Vietnam’s economic growth

Currently, the private economic sector comprises over 6.1 million business establishments, including approximately 940,000 registered enterprises and over 5.2 million household businesses. The sector contributes around 50% of the country’s GDP, accounts for over 56% of total social investment, employs approximately 82% of the workforce, and generates around 30% of state budget revenue and more than 30% of total import-export turnover.

Prime Minister Pham Minh Chinh receives Wouter Van Wersch, Executive Vice President of Airbus International. (Photo: VNA)

PM suggests Airbus help Vietnam in developing aviation ecosystem

During a meeting on March 14 with Wouter Van Wersch, Executive Vice President International of Airbus, Prime Minister Pham Minh Chinh praised the aerospace giant’s cooperation with Vietnamese partners, emphasising its role in boosting domestic and international connectivity and driving Vietnam’s socio-economic growth.

The Vietnam Consumer Rights Day 2025 is under the theme "Transparent Information – Responsible Consumption". (Photo: VNA)

Hanoi launches campaign for Consumer Rights Day

The event, organised by the city's Department of Industry and Trade, aimed to promote consumer protection as a long-term, essential task for all levels of government, businesses and society.