VRG to open domestic rubber trading floor

Deputy Prime Minister Truong Hoa Binh ordered the Vietnam Rubber Group (VRG) to coordinate with other relevant agencies to establish rubber trading floor in the country.

Workers harvest rubber which is one of vietnam's major agricultural products(Photo: SGGP)
Speaking at a meeting to implement the VRG’s plan for 2017 on January 10, Deputy PM urged the Group to promote equitization, management and effective use of land as well as reduce price to enhance competitiveness and grow other trees with rubber tree and run hi-tech agriculture not to waste the land.

Deputy PM added that the VRG should reduce production of raw rubber and increase rubber industrial products in order to gain more profit as well as open domestic rubber trading floor.

The VRG said the group has 20 member companies and four administrative companies which are running equitization as its roadmap. In 2016, Ba Ria and Tan Bien Rubber Companies were equitized. Rubber is one of Vietnam’s ten major agricultural products with export turnover of over US$1 billion.

By Cong Phien – translated by Uyen Phuong

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