Vietnam Rubber Group urged to aim for US$10 billion revenues
| |
Deputy PM Vuong Dinh Hue at the working session with the Vietnam Rubber Group - Photo: VGP |
He made the request at a meeting with the group on April 18, adding that the VRG must become a leading enterprise in agriculture and set an example for other agricultural businesses.
The group was equitised in June last year and its state-owned stake is currently managed by the Committee for Management of State Capital after being transferred from the Ministry of Agriculture and Rural Development (MARD).
Although the initial public offering failed to meet the target as less than 25% of the state stake were sold, the group continued to record decent performance.
Last year, the VRG’s profits reached VND4.536 trillion (US$195 million), up 25.53% compared with the target set by the MARD.
Appreciating the group’s efforts, Deputy PM Hue stated that the VRG needs to diversify its products, especially rubberwood, in order to gain a larger share in the wood processing industry.
He noted that the VRG should focus on wood processing and industrial rubber products, which have yet to be fully tapped, instead of putting its resources into planting rubber trees, harvesting latex and manufacturing MDF wood.
Such an approach would reduce the VRG’s reliance on global rubber prices.
The Deputy PM also suggested that the VRG should attract secondary investors to support its wood-processing business, in addition to the development of industrial parks.
At the meeting, Deputy PM Hue requested that the group formulates a master plan to restructure its business, re-organise its land after equitisation and report on a number of rubber planting projects.
See also

Vietnam adopts high integration standards
06:00 | 25/03/2023 Companies

Bac Giang promotes consumption of OCOP products associated with tourism
10:02 | 24/03/2023 Vietnamese Brands

Bamboo Airways to launch Viet Nam’s longest domestic air route from April
14:53 | 22/03/2023 Vietnamese Brands

King Coffee and Tín Thành Group partner to build a tyre plant in the US
10:20 | 20/03/2023 Vietnamese Brands

Vietjet announces first direct air route between Vietnam, Queensland
18:33 | 16/03/2023 Companies

Vietnamese businesses attend Foodex Japan 2023
06:00 | 13/03/2023 Foreign trade
See more news

519 firms win Vietnamese High-Quality Goods Award
08:00 | 11/03/2023 Vietnamese Brands

Vinamilk and Japan’s Sojitz begin work on beef cattle project in Vinh Phuc
09:47 | 09/03/2023 Vietnamese Brands

Vietnamese pomelos star in UK market
06:00 | 06/03/2023 Vietnamese Brands

Vietnam joins largest SME festival in Berlin
18:11 | 02/03/2023 Companies

Vietnamese agricultural products increasingly welcomed in Belgium
14:34 | 24/02/2023 Major exports

Vietnamese baguette ranked 7th in world's top 50 best street foods: TasteAtlas
14:25 | 21/02/2023 Vietnamese Brands

Vietnam Airlines resumes Hanoi-Kuala Lumpur route
15:55 | 14/02/2023 Companies

JTI Vietnam certified as Top Employer for 3rd year
15:05 | 07/02/2023 Companies

Doosan Vina and Chung Ang University continue educational CSR program
10:32 | 06/02/2023 Vietnamese Brands

Nestlé Vietnam and the journey to sustainable development
13:00 | 10/01/2023 Companies

Asian investors increasingly keen on Vietnam
13:00 | 26/03/2023 FDI

Bac Kan produce takes off
10:00 | 26/03/2023 Industry promotion

Stock market violations to face stricter sanctions
07:10 | 26/03/2023 Stock Market

Let’s go fly a kite
06:00 | 26/03/2023 Lifestyle

Vietnamese noodles clear EU safety hurdle
15:09 | 25/03/2023 Foreign trade
Multimedia

Ha Long Bay, Cu Chi Tunnels among ten adventurous tourism places in Southeast Asia
07:00 | 25/03/2023 Infographic

Vietnam-Italy trade partnership
13:00 | 23/03/2023 Infographic

Renowned Vietnamese artists collaborate on unique porcelain artworks
06:00 | 23/03/2023 Lifestyle

Vietnamese culture and silk are topics of event dedicated to women
06:00 | 25/03/2023 Lifestyle

The first Vietnamese bread festival
06:00 | 25/03/2023 Entertainment

New legal documents in first half of March 2023
06:00 | 23/03/2023 Policy

Animal feed industry asks for import tax reduction on raw materials
09:55 | 20/03/2023 Policy

Over 250 petitions submitted to authorities on fragility of petroleum regulations
18:07 | 16/03/2023 Policy

New legal documents in second half of February 2023
07:00 | 12/03/2023 Policy

Bac Kan produce takes off
10:00 | 26/03/2023 Industry promotion

Bac Giang develops rural industrial exports
07:00 | 25/03/2023 Industry promotion

Ocean dialogue dicusses offshore renewable energy potential
09:53 | 24/03/2023 Energy

Vietnam Manufacturing Expo & NEPCON Vietnam exhibition 2023 kick off
16:41 | 22/03/2023 Support industries

Asian investors increasingly keen on Vietnam
13:00 | 26/03/2023 FDI

India introduces pharmaceutical industry' opportunities to potential Vietnamese investors
19:54 | 23/03/2023 Vietnam and other regions

Vietnam attracts Czech investors
06:00 | 23/03/2023 FDI

US businesses exploring investment, business opportunities in Vietnam
10:01 | 21/03/2023 FDI

Stock market violations to face stricter sanctions
07:10 | 26/03/2023 Stock Market

Vietnam to develop policies to adapt to global minimum tax
07:05 | 23/03/2023 Finance-Banking

Vietnam seeks response to corporate tax overhaul
06:00 | 20/03/2023 Finance-Banking

Vietnam’s regulatory interest rates to be reduced by 0.5-1 percent
07:05 | 16/03/2023 Finance-Banking

The value of wood scraps for business
13:00 | 25/03/2023 Environment

New river trash capture tool launched in Nam Dinh Province
15:00 | 23/03/2023 Environment

Việt Nam carries out measures for healthy forests
10:30 | 22/03/2023 Environment

COP28 President-Designate to co-chair Copenhagen climate ministerial meeting
09:46 | 22/03/2023 Environment

Vietnam, Thailand beef up sci-tech, educational collaboration
06:00 | 25/03/2023 Science - Technology

Science, technology, innovation promoted to support national development
06:00 | 22/03/2023 Science - Technology

Vietnam introduces automated sorting system
13:00 | 20/03/2023 Make in Vietnam

Domestic ICT firms well-positioned to reach out to the world
06:00 | 20/03/2023 Science - Technology

Agriculture sector to use AI to maximise production
10:42 | 24/03/2023 Society

Việt Nam strives to eliminate malaria once and for all
09:16 | 23/03/2023 Society

Transport infrastructure fund needed to enhance Southeast regional linkages
09:52 | 21/03/2023 Society

Hà Nội to build new bridge crossing Red River
07:00 | 19/03/2023 Metropolis

Vietnam adopts high integration standards
06:00 | 25/03/2023 Companies

Bac Giang promotes consumption of OCOP products associated with tourism
10:02 | 24/03/2023 Vietnamese Brands

Bamboo Airways to launch Viet Nam’s longest domestic air route from April
14:53 | 22/03/2023 Vietnamese Brands

King Coffee and Tín Thành Group partner to build a tyre plant in the US
10:20 | 20/03/2023 Vietnamese Brands

Let’s go fly a kite
06:00 | 26/03/2023 Lifestyle

Vietnamese culture and silk are topics of event dedicated to women
06:00 | 25/03/2023 Lifestyle

Renowned Vietnamese artists collaborate on unique porcelain artworks
06:00 | 23/03/2023 Lifestyle

Việt Nam's grilled bananas among world’s most delicious desserts
06:00 | 20/03/2023 Lifestyle

Ha Long Bay, Cu Chi Tunnels among ten adventurous tourism places in Southeast Asia
07:00 | 25/03/2023 Infographic

Small stools, big charm balancing Hà Nội's iconic appeal with pedestrian safety
06:00 | 25/03/2023 Tourism

Japanese man gives his love to Hà Giang
06:00 | 23/03/2023 Tourism

Visa exemption means int'l tourists can visit Phu Quoc for up to 30 days
16:32 | 22/03/2023 Tourism