Despite the difficulties caused by the COVID-19 pandemic and natural disasters that directly affected it, the Vietnam Rubber Group achieved its revenue and profit targets for 2020.
The Vietnam Rubber Industry Group plans to invest in rubber tyre and tube production to check a fall in revenues. (Photo: VNA)
HCMCity (VNS/VNA) - Despite the difficulties caused by theCOVID-19 pandemic and natural disasters that directly affected it, the Vietnam RubberGroup achieved its revenue and profit targets for 2020.
It reported after-tax profit of 5 trillion VND on sales of 25.477 trillion VND(1 billion USD).
But with COVID-19 still a threat, it expects 2021 to be a difficult year.
It has advised its subsidiaries to not stockpile to wait for prices to rise orsell too soon if prices fall.
They should work closely together with respect to processing to control qualityand make their products consistent.
It would focus on restructuring and step up investment in the rubber sector,and M&As would help close the rubber tyre and tube products value chain, itsaid.
Currently it has five main lines of interest: growing rubber trees andprocessing latex, processing rubber wood, making industrial products fromrubber, operating industrial parks amid rubber plantations, and high-techagriculture.
In the natural rubber segment, GVR manages more than 400,000ha of land underrubber trees, but this business has been on a downward trend in recent yearsdue to low rubber prices.
The COVID-19 pandemic has further hurt demand for rubber, pushing productioneven lower.
Expanding tyre and tube production could help revive revenues.
It entered this segment in 2017 through a partnership with the Southern RubberIndustry Joint Stock Company (Casumina) to produce the VRG brand of tyres./.
The Vietnam Rubber Group JSC (VRG) plans to invest in tyre and tube production via mergers and acquisitions (M&As) over affiliate companies of the Vietnam Chemical Group (Vinachem).
The Vietnam Rubber Association (VRA) on November 11 kicked off a project promoting the sector’s compliance with the Vietnam Timber Legal Assurance System (VNTLAS).
Sustainable latex production is important for Vietnam’s rubber industry, and the country should focus on getting rubber plantations to obtain certifications on sustainability, experts have said.
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The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
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Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
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The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
The Vietnam Rubber Industry Group plans to invest in rubber tyre and tube production to check a fall in revenues. (Photo: VNA) 
