Rubber latex being processed for automobile tyre production at the MTV Rubber JSC under the Vietnam Rubber Group JSC in the central province of Quang Nam (Photo: VNA)
Hanoi (VNA) - The Vietnam Rubber Group JSC (GVR)targets increases of 8 percent and 5 percent in revenue and post-tax profit thisyear, respectively.
The information was released during the 2020 Annual GeneralMeeting of Shareholders (AGM) held in Ho Chi Minh City on June 12.
This was the group’s first AGM after moving its listing fromthe Unlisted Public Company Market (UPCoM) to the Ho Chi Minh Stock Exchange(HoSE) on March 17.
The group aimed to earn nearly 24.7 trillion VND (1.05billion USD) in revenue and more than 4 trillion VND in profit.
It plans to pay 2019 dividend in cash at a rate of 6 percent,equivalent to 2.4 trillion VND. Dividend pay-out ratio for 2020 is expected toalso stay at 6 percent.
According to the Board of Directors, the prices of key exportproducts, such as rubber and wood, all fell sharply and products could not selldue to lower demand.
“The rubber industry is facing difficulties due to theimpacts of climate change, natural disasters, floods and storms. Theunpredictable development of the COVID-19 pandemic is also a challenge for thegroup,” said GVR General Director Huynh Van Bao.
The group plans to improve the quality of corporategovernance, restructure its business activities, focusing on five maintraditional business areas including planting, processing rubber latex;processing rubber wood; rubber industry products; industrial zone investment onrubber cultivation land and hi-tech agriculture.
The land fund which is unsuitable for rubber trees will beconverted into cultivation land for other crops, the group said.
As of December 31, 2019, the group had divested capital fromnon-core member units and collected nearly 2.4 trillion VND.
Bao said the divestment helped the group earned a significantsource of capital to balance investment.
He said the group would proceed to convert 20 limitedliability companies, in which it is holding 100 percent of capital, into jointstock companies.
This created transparency for businesses, thereby attractingforeign investment more easily, Bao said./.
The Vietnam Rubber Industry Group (VRG) will invest in three more processing factories in the northern region as the rubber output is expected to increase in the coming time.
There is a rising wave of converting rubber plantations into industrial land as developers eye spots for industrial zones to capture opportunities from global value chains.
The agro-forestry-fishery sector recorded a trade surplus of close to 3.3 billion USD in the first five months of 2020, a decline of a mere 2.3 percent year-on-year.
Vietnam reported a trade surplus of 1.9 billion USD in the first five months of this year amid the ongoing complexity for global markets caused by the COVID-19 pandemic.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Rubber latex being processed for automobile tyre production at the MTV Rubber JSC under the Vietnam Rubber Group JSC in the central province of Quang Nam (Photo: VNA) 
