The Viet Nam Rubber Group inaugurated its new rubber latex processing plant, worth VND110 billion (US$4.8 million), in the northern mountainous province of Son La on Wednesday.

Spanning nearly 16ha in Tong Lenh Commune, Thuan Chau District, the plant comprises two production lines, enabling it to provide 9,000 tonnes of rubber latex each year.

The first line, which began operations the same day, has annual production capacity of 6,000 tonnes of rubber latex while the second, slated for completion in 2020, will provide 3,000 tonnes each year.

The plant, the first of its kind in the north-western region, has created more than 200 local jobs.

In his speech at the plant’s opening ceremony, Chairman of the provincial People’s Committee Cam Ngoc Minh asked the investor to work closely with local authorities and farmers to ensure the plant’s operation and environmental protection.

Statistics from the General Department of Viet Nam Customs show Viet Nam exported 85,000 tonnes of rubber in the first 15 days of December, earning a turnover of $103 million, down 2 per cent in volume and 17 per cent in value compared to the same period last year.

The country shipped 1.47 million tonnes of rubber abroad from the beginning of this year to mid-December for $1.98 billion, up 14 per cent in volume but down 9 per cent in value.  

The period’s export value decline was due to a drop in export prices of rubber globally, trade experts have said.

According to the analysis, the rubber industry not only helps Viet Nam earn billions of dollars but also create jobs for more than 500,000 labourers. The industry has played an important role in supplying materials for domestic production sectors, especially wood processing. — VNS