The Vietnam Rubber Group on Tuesday announced that it has harvested about half of all its rubber plantations in the country.
The group, which has investments in large-scale rubber farms in seven provinces in Cambodia, announced the figure during a meeting with Agriculture Minister Veng Sakhon. At the meeting, the Vietnam Rubber Group was represented by chairman Tran Ngoc Thuan.
Mr Thuan said the group’s investment has substantially contributed to the development of the country, providing thousands of jobs to local residents and financial assistance for road development.
Pol Sopha, director-general of the General Department of Rubber, told Khmer Times on Monday that the group’s investment in Cambodia is valued at about $800 million, spread across 90,000 hectares in Kampong Thom, Preah Vihear, Siem Reap, Oddar Meanchey, Kratie, Mondulkiri, and Ratanakkiri.
He said the Vietnam Rubber Group operates through 19 subsidiaries in the Kingdom.
Last year, the group collected 25,400 tonnes of latex in Kampong Thom province alone, according to local media reports.
The group has eight subsidiaries operating in the province which together sold 25,766 tonnes of latex in 2018 and generated about $1.7 million in profit.
“The group has now plans to build processing facilities in provinces where it has farms,” said Mr Thuan.
“We will continue to strictly implement the principles agreed with the Ministry of Agriculture and follow regulation to ensure we continue to be successful in the country,” he added.
Rubber production increased by 32 percent in the first quarter of the year, reaching 48,778 tonnes, according to the latest report from the General Department of Rubber. Most production was shipped abroad.