HÀ NỘI — The Vietnam Rubber Group (VRG) and Vietnam Electricity Group (EVN) signed a comprehensive cooperation agreement to develop renewable energy until 2030.

According to the agreement, inked on Monday, EVN will support renewable energy projects that will be developed on rubber plantations managed by VRG, by proposing to relevant authorities to add them to the National Power Development Plan VIII.

The two groups will also explore other options to develop new power generation projects, including pumped storage hydropower ones.

VRG is the largest agricultural economic group in Việt Nam, which plays a pioneering role in the development of the rubber industry in the country.

EVN is the national electricity group responsible for providing power to the people and socio-economic development activities.

Speaking at the signing ceremony, Trần Công Kha, chair of VRG’s board of directors said: "VRG and EVN will be strategic and trusted partners in upcoming business operations. Together, we will maximise strengths and enhance efficiency across various activities, in line with the growth strategies of both companies.

"VRG is committed to dedicating its best resources to accompany EVN, contributing to the development of a prosperous Việt Nam and enhancing the country’s competitiveness in the region and internationally."

Đặng Hoàng An, chair of EVN’s member council, said: "The rubber industry not only holds a crucial position in the country’s economic development, national defence and social welfare, but also serves as an essential link in the industrial supply chain.

“EVN is more than ready to assist VRG in investing and developing new energy sources, which is in line with the country’s sustainable development goals and VRG’s strategic direction to promote high-tech agriculture, build industrial parks on their rubber plantations and develop clean and renewable energy.” — VNS