The Vietnam Paper Corporation (VPC) earned revenue of over US$93 million in 2016, contributing $4.3 million to the State budget.

The information was revealed at a conference in the northern province of Phu Tho on Wednesday to review the company’s production and business last year and launch plans for 2017 plans.

According to reports, in 2016, the firm produced a total of 104,000 tonnes of paper. It exploited 261,000cu.m. of wood for paper material and planted 3,500ha of new forest.

Addressing the conference, corporation’s general director Vu Thanh Binh stressed the industry will have to face many difficulties and challenges in 2017 in the context of declining consumption of printing and writing paper and fierce competition in the market.

Binh stated, in the future, the firm will focus on promoting restructuring and equitisation in line with the plan of the government and the Ministry of Industry and Trade.

Attention will be paid to cutting production costs to reduce prices and improve products’ competiveness. The corporation will strive to better production and business efficiency of forestry companies.

The company has targeted earning over VND2.1 trillion in revenue in 2017, the same amount as last year. — VNS