A delegation of Russia’s Rostec Corporation worked with authorities in the southern province of Binh Duong on Wednesday to prepare for the operations of the Viet Nam-Russia Rubber Joint Venture Company (Visorubtex).

The project is expected to be operational after 2020.

The project, which was signed between the Vietnamese Government and the Russian Government, will include rubber plantations, research and pilot production of Visorutex rubber in Binh Duong Province.

Speaking at the meeting, deputy chairman of provincial People’s Committee Tran Thanh Liem said local authorities always supported the Rostec Corporation’s work on Visorutex in the province. Rostec needed to discuss the details with the Viet Nam Rubber Group to have a common agreement, he added.

Besides growing rubber, Liem said the province expected Rostec to invest in other areas, especially industrial development.

The province has since 2010 converted nearly 2,000ha of rubber growing land into industrial land. As planned, the province will increase the area of industrial land to more than 14,000ha by 2020 from its current 10,000ha.

Yuriy Makeev, Rostec deputy general director’s adviser, appreciated the development potential of Binh Duong Province and thanked the provincial authority for their support of Rostec.

He said his corporation wanted to begin operations in the province by growing rubber and undertake activities related to Visorutex. — VNS