Vietnam Rubber Industry Group (VRG) has exceeded its production target in 2023, laying a solid foundation for the new year. With the arrival of 2024, the group has set an even more ambitious target: rubber production is planned to exceed 4450,000 tons of latex mark, while planning to purchase more than 750,000 tons of latex raw materials, and strive to achieve more than 520,000 tons of latex sales.
In the rubberwood business, VRG expects to expand the harvested area to more than 6,400 hectares in 2024 and the production of rubberwood is expected to exceed 1.2 million cubic meters. Compared to 2023 figures, this increase ranges from 1% to 89%. In addition, the Group has also set its sights on supporting industrial products for the rubber industry, including gloves, conveyor belts, sports balls, mattresses and rubber pillows, etc., which are expected to increase by 6% compared to 2023. The VRG Industrial Park is also planned to expand significantly, aiming to add 245 hectares of leased area, which is equivalent to 468% of the 2023 estimate.
According to the carbon black industry network, Li Qingxing, general manager of VRG, said when looking forward to 2024 that this year is crucial for the implementation of the resolution of the National Assembly on the five-year plan for economic and social development (2021-2025). However, he also admitted that VRG Group will still face many challenges in its production and business activities in 2024 due to the continued sluggish selling price and consumer demand.
Despite this, VRG Group is determined to fully pursue its production and investment plans for 2024. According to the group's members, VRG has set specific production targets in five major areas: agriculture, industrial parks, rubber industry, wood processing, and hydropower, aiming to ensure stable income by achieving goals in all aspects of mining, processing, and sales**.
In order to enhance the competitiveness of Vietnamese rubber in the global market, VRG is taking a series of measures, including strict cost management to control real-time monitoring and market dynamics, and implementing a number of synergistic and effective solutions. These initiatives are designed to help the Group achieve its production and sales targets.
At the same time, VRG is aware of the importance of ensuring the operation of the plant. To this end, in 2024, the Group will provide diversified solutions for rubber companies to ensure sufficient labor resources and promote the implementation of green growth and sustainable development strategies. Through these efforts, VRG looks forward to achieving higher brand value and economic benefits in 2024, contributing more to the prosperity and development of Vietnam's rubber industry.