The Vietnam Rubber Group (VRG) will equitize its parent company and subsidiaries Phu Rieng, Binh Long and Loc Ninh rubber companies this year.
According to the group, rubber industry will continue facing difficulties in consumption this year.
Therefore, it will work to reduce investment domestically, lower cost prices, divest from businesses outside the rubber industry, speed up equitization and intensify care to improve rubber trees’ quality.
The group will plant only 2,000 new rubber hectares and clear old and low productivity areas.
Besides VRG will take the imitative in working with rubber product manufacturers such as mattress and glove makers to consume its materials and study domestic tire production.