15:02 | 01/09/2015 Investment
The Tan Bien-Kampong Thom Development Company opened a rubber latex processing plant in Cambodia yesterday.
Viet Nam's ambassador to Cambodia, Thach Du, cuts a rubber tree to get latex at Tan Bien-Kampong Thom Development Company in Cambodia. — VNA/VNS Photo Xuan Khu
The company is an affiliate of the Viet Nam Rubber Group (VRG).
Vietnamese Minister of Agriculture and Rural Development Cao Duc Phat and Cambodian Deputy Prime Minister Yim Chhay Ly were present at the opening ceremony.
The Cambodian Deputy PM valued Vietnamese rubber plantation projects in Cambodia, which helped develop the local economy and generated jobs for local residents.
Vietnamese firms are also been involved in social welfare activities, infrastructure building and poverty reduction efforts in Cambodia.
Minister Phat reiterated the Vietnamese Government's determination to develop its friendship and comprehensive co-operation with Cambodia across all fields, especially in agriculture.
He thanked the Cambodian Government and people for facilitating Vietnamese investment in their country.
The construction of the processing plant started last year with a designed capacity of 3,000 tonnes per annum.
It is expected to help the company as well as other VRG affiliates in Cambodia process fresh rubber latex and improve business efficiency.
The company has been licensed to grow rubber trees on over 7,000ha in Cambodia's Kampong Thom province with total investment of US$43.5 million.
Fourteen VRG affiliates are implementing 18 rubber projects in Cambodia on 90,000 of the 130,000ha of land allocated for their use./.