Rubber group urged to create value-added products
Prime Minister Nguyen Xuan Phuc has stressed the need for the State-owned Vietnam Rubber Group (VRG) to develop processing industry, thus creating value-added products.
Prime Minister Nguyen Xuan Phuc (R) visits the Vietnam Rubber Group (Source: VNA)HCM City (VNA) – Prime Minister Nguyen Xuan
Phuc has stressed the need for the State-owned Vietnam Rubber Group (VRG) to develop processing
industry, thus creating value-added products.
During talks with VRG management and workers on January 5, the Government leader appreciated efforts made by the group in maintaining production and business, while ensuring jobs for nearly 90,000 workers in the context of falling rubber latex price.
He asked the group to renovate management and push equitisation and restructuring in the spirit of transparency and publicity, to ensure no loss of state capital.
Attention should also be paid to improving living standards of workers, especially women, he noted.
The PM required the group to build a specific action plan to successfully implement the group’s production and business plan in 2018.
The Vietnam Rubber Group (VRG), one of the biggest economic groups in Vietnam, posted 3.6 trillion VND (158.7 million USD) in after-tax profit in 2017. It is actively preparing for its upcoming initial public offering (IPO) in the first quarter of this year.
In November last year, the VRG’s five-year production and business plan for 2016-2020 received government’s approval. The plan targets an average annual growth of 18 percent during the period, with total revenue surpassing 40 trillion VND (1.76 billion USD) and profit of around 9 trillion VND (409 million USD) by 2020.-VNA
During talks with VRG management and workers on January 5, the Government leader appreciated efforts made by the group in maintaining production and business, while ensuring jobs for nearly 90,000 workers in the context of falling rubber latex price.
He asked the group to renovate management and push equitisation and restructuring in the spirit of transparency and publicity, to ensure no loss of state capital.
Attention should also be paid to improving living standards of workers, especially women, he noted.
The PM required the group to build a specific action plan to successfully implement the group’s production and business plan in 2018.
The Vietnam Rubber Group (VRG), one of the biggest economic groups in Vietnam, posted 3.6 trillion VND (158.7 million USD) in after-tax profit in 2017. It is actively preparing for its upcoming initial public offering (IPO) in the first quarter of this year.
In November last year, the VRG’s five-year production and business plan for 2016-2020 received government’s approval. The plan targets an average annual growth of 18 percent during the period, with total revenue surpassing 40 trillion VND (1.76 billion USD) and profit of around 9 trillion VND (409 million USD) by 2020.-VNA
You should also see
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
See more
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
