Plant the second of the Group in Vietnam's neighbor.
On August 26 the Tan Bien-Kampong Thom Rubber Development Company, a subsidiary of the Vietnam Rubber Group (VRG) held an opening ceremony for its rubber latex processing plant in Cambodia.
Construction of the plant, in Kampong Thom province, began in 2014 with the RSS rubber production line and a capacity of 3,000 tons in the first phase. The company expects to expand the production line in 2016 to improve production and business efficiency.
According to VRG CEO, Mr. Tran Ngoc Thuan, since 2006 the Group has implemented an investment program to develop rubber plantations in Cambodia, with total investment of $1 billion, and has already disbursed $666 million.
Speaking at the opening ceremony, Minister of Agriculture and Rural Development Cao Duc Phat thanked the government and people of Cambodia for creating favorable conditions for Vietnamese enterprises to implement investment projects in the country.
“Since 2009 Vietnam has had 171 investment projects in Cambodia with total capital of $3.2 billion, ranking it fifth out of 50 countries and territories investing in the country, of which agriculture accounts for 51 per cent,” he said. “As at the end of 2014 VRG had planted more than 90,000 ha of rubber trees.”
Deputy Cambodian Prime Minister Yim Chhay Ly expressed the government’s support for the rubber plantation project in Kampong Thom and other provinces as they contribute to socio-economic development and create jobs for local people.
VRG currently has 14 subsidiaries implementing 18 rubber projects in Cambodia on nearly 130,000 ha of land granted by the Government of Cambodia. The Group has put a total area of 700 ha into operation and is expected to expand its operations to 4,535 ha. It now has two rubber processing plants in Cambodia, with the Kampong Thom plant joining the Oyadav Rubber Processing Plant, which was officially put into operation in October 2014.
Along with investment in planting rubber trees the Group has also spent $30 million on developing social infrastructure in project areas, in fields such as transportation, electricity, water, education, health, and religion.