The Vietnam Rubber Group Joint Stock Company (VRG) is still eying over 166.6 million USD in pre-tax profit. (Photo: VNA) HCM City (VNA) – Although 2024 is forecast to be a challenging yearfor the rubber sector, posed by unfavourable weather conditions and unpredictablemarket development, the Vietnam Rubber Group Joint Stock Company (VRG) is still eying over 4.1 trillion VND (166.6 million USD) in pre-tax profit, up 2.2% year-on-year.
The group’s after-tax earnings is expected to grow 0.9% to more than 3.43 trillionVND.
It has set the targets of producing 445,000 tonnes of latex, purchasing over75,000 tonnes of latex material, and selling more than 520,000 tonnes of latex.
Timber and latex productivity is estimated to rise by 1% to 89% from 2023,while the production of the rubber supporting industry goods such as gloves, conveyorsystems, sport balls, latex mattresses and pillows are expected to increase 6%.
Besides, the group is aiming for leasing 245 hectares of industrial parks, or468% of the figure recorded in 2023.
According to VRG General Director Le Thanh Hung, to realise the set goals, the groupwill keep a close watch on the market developments so as to have flexiblesolutions to sale, inventories and prices.
Harmonious and effective measures will be rolledout, aimed at completing production-consumption targets, he said, adding thegroup will pay due attention to sustainable rubber forest management inaccordance with national and international standards, and carry out greengrowth and sustainable development solutions in order to bring about high brand andeconomic values this year.
The group has unveiled its Green Growth and Sustainable Development Strategyfor 2023–2030 with a vision to 2050 that encompasses three goals of economicdevelopment, environmental protection, and social responsibility.
The strategy targets a minimum 15% reduction in greenhouse gas emissions fromenergy use by 2030 and 30% by 2050.
The VRG also plans to greenify its supply chain to meet the strictersustainability requirements from customers.
The goal is for60% of its rubber cultivation area and production forests to obtain nationaland international sustainable forest management certifications (VFCS/PEFC/FSC)by 2030 and 100% by 2050.
By 2030, allrubber latex processing factories will achieve chain of custody certification,and all man🅠ufacturing plants (rubber latex, wood, rubber-based industrialproducts) by 2💦050./.
