Binh Duong endorses Russia’s rubber project Visorutex

14:42 | 07/07/2017 Investment

The People’s Committee of southern Binh Duong province supports the Russia-based ROSTEC Group to carry out the rubber production project Visorutex, said Vice Chairman Tran Thanh Liem on July 4.

Authority of Binh Duong province voices support for Russia's ROSTEC Group to carry out the rubber production project Visorutex in a local meeting on July 4 (Photo: VNA)

He made the statement during a meeting with Yuriy Makeev, ROSTEC Deputy General Director’s adviser, to discuss the rubber replanting and manufacturing project in the province.

Vietnam and Russia signed an agreement to establish a joint venture for rubber production in 1991, cultivating more than 1,000 hectares of rubber in Binh Duong.

Speaking at the meeting, Liem lauded Vietnam – Russia relations and updated Makeev on local socio-economic development and policies for investors.

He voiced support for Visorutex and also hoped that ROSTEC will consider investing in other fields.

The province has converted approximately 2,000 hectares of land for rubber farming to land for industrial activities since 2010. It plans to increase the coverage of industrial land from about 10,000 hectares at the moment to more than 14,000 hectares in 2020, the leader noted.

Makeev thanked the provincial authority for their support of ROSTEC, saying the group wants to continue operating in Binh Duong.

ROSTEC looks forward to more assistance from the province in the future, he added.

Theo VNA