Vietnam Rubber Industry Group founded

PM Nguyễn Tấn Dũng granted the Decision to VRIG  CEO Trần Kiên Quyết and Director General Lê Quang Thung - Photo: VNGOP

Converted from the Vietnam Rubber Corporation, VRIG is the first economic industrial group in agriculture and one of Vietnam's economic giants. It will engage in various spheres and activities beside planting, caring, exploiting and processing rubber. At present, the Group has a contingent of over 83,000 employees, including nearly 10,000 laborers from ethnic minorities. VRIG is now caring about 220,000 ha of rubber throughout the country and reaching a productivity of 300,000 tons/year.

The Group consists of 80 members and associate units, four non-productive units, 22 State-owned enterprises and over 50 ones operating under the Business Law, and 13 companies to do investments abroad. By late 2006, VRIG's total property was VND 14,350 billion, including VND 7,320 billion in State hand.

PM Nguyễn Tấn Dũng highly spoke of the Group's application of scientific and technological advances in increasing the yield of rubber latex from 900 kg/ha to 1.8-2 tons/ha. The head of the Government ordered VRIG to process over 30% of rubber latex and timber harvested by its members into finished products such as tires, tubes, and gloves.

VRIG in particular and Vietnam's rubber sector in general should considerably contributed to the country's cause of agricultural and rural industrialization and modernization, PM Nguyễn Tấn Dũng stressed. The PM asked the Ministry of Agriculture and Rural Development to set up an master planning scheme to develop 1 million hectares of rubber by 2015. VRIG must play a decisive role in this process, said the PM. He also required the Group to generate more jobs and increase income for local people in the areas where it plans to develop rubber industry.

By Xuân Hồng