With global rubber prices continuing to fall after a rout last year,
things are expected to remain very difficult for the industry, the
State-owned Vietnam Rubber Group has warned.
More and more Vietnamese workers have been going to Laos in recent
years to help on investment projects between the two countries. The
figure is expected to exceed 20,000 by 2015.
Vietnam ranked the world's third largest natural rubber producer and
the fourth largest exporter following Thailand , Indonesia and
Malaysia in 2013. Currently, when the rubber supply exceeds the
demand, Vietnam needs to enhance the competitive edge to be able to
maintain its rank in the global market, the Vietnam Business Forum
Magazine (VBF) reported.
Work on a 1.4 trillion VND (66.6 million USD) wood production line
started on February 20 at the Quan Ngang Industrial Zone, Gio Linh
district in the central province of Quang Tri.
In 2014, the Vietnam Rubber Group (VRG) will purchase an additional
11,220 hectares of rubber trees in Cambodia as it strives to gain
100,000 ha in the neighbouring country, according to VRG General
Director Tran Ngoc Thuan.
The Government Inspectorate on October 15 said that it had found misuse
of public funds totalling 354 billion VND (16.8 million USD) in four
public projects.
The increasing global rubber demand in recent years has encouraged
Vietnam, the fifth biggest natural rubber producer in the world in 2012,
to restructure the industry to increase export value and
improve value chain . Report by the Vietnam Economic News.
Vietnam Rubber Group General Director Tran Ngoc Thuan said that to
restructure the industry, implementing mergers and acquisitions
(M&A) deals with small companies, associating with major brands,
reducing crude production and diversifying products to improve
added-value and ensure sustainable development were needed.
The 2013 Gold Star Award was presented to 200 outstanding brands across
29 sectors for their product quality and social responsibility in
Hanoi on September 2.
The Vietnam Rubber Group (VRG) has affirmed that it took its
responsibility for its investment in Cambodia and Laos very
seriously and ensured it was used for the sustainable development of the
two countries.
Lao media on June 3 ran articles praising the investment and support
that Vietnam Rubber Group (VRG) has provided Laos to help it reduce
poverty and develop its socio-economy.
In the first five months of 2013, 16 more state-own enterprises (SOEs)
have been re-organised under a project to re-arrange and renovate SOEs
for the 2011-2015 period.
Vietnamese businesses are pumping more investment in agriculture,
forestry and fishery abroad in a bid to expand their markets and reduce
production and transport costs.
Laos and Cambodia are two promising markets for Vietnamese workers as
Vietnamese businesses operate many projects in the two neighbouring
countries, the Vietnam Economic Times has said.
Three more enterprises have been recognised as "authorised economic
operator (AEO)" within 12 months by the General Department of Vietnam
Customs on, bringing the nation's total AEOs to 12.
XIII National Congress of Communist Party of Vietnam
