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06. November 2006

VIETNAM: Rubber Group gets PM’s stamp of approval

Source: Daily "Vietnam News", Hanoi; 6 Nov 2006

Viet Nam Rubber Corporation will be restructured to
become Viet Nam Rubber Group (VRG), following a
decision issued by Prime Minister Nguyen Tan Dung.

Decision No 249/2006/QD-TTg states that the group
will play an important role in spurring the rubber
industry’s development, and improving its efficiency
and stability ahead of WTO accesion.

The decision also stipulates VRG’s business activities,
management mechanism and its relationship with
subsidiaries.

The first 10 months of the year saw the value of
rubber exports increase 90 per cent year-on-year,
amounting to an estimated US$1.1 billion, due to
rising prices in the world market, according to the
Trade Ministry’s Trade Information Centre.

Currently, Viet Nam ranks fourth among the world’s
leading rubber exporters. The country’s rubber is
being exported to more than 40 countries and
territories world-wide, including Japan, mainland
China, Singapore, Taiwan, Korea, the US and Germany.

The ministry explained that the nation held many
advantages in terms of prices and markets, making way
for a better future position in terms of rubber output
and export turnover.

It added that Viet Nam would continue to explore more
trade opportunities in its traditional export markets
as well as seeking new markets such as those in the EU.


(Syed Rashid Ali, Karachi, Pakistan)

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