The supply surplus and a sharp decrease in the price of rubber has pushed the Vietnam Rubber Group (VRG) to plan reducing its output.

Vietnam’ s rubber exports reached 1.06 million tonnes of rubber in the first nine months of this year, worth US$1.45 billion, increasing 10.9 per cent in volume. However, the falling price has led to the annual decrease 10 per cent in value.

The supply surplus anda sharp decrease in the price of rubber has pushed the Vietnam Rubber Group (VRG) to plan reducing its output.

The price of rubber this year was about 20 per cent lower than that in 2017, but the group was still aiming to fulfill its target on revenue, profit and dividends, said Lực.

VRG officially moved to operate as a joint stock company in June this year. It is completely transferred to the Committee for State Capital Management (CMSC).

VRG is one of 19 State-owned enterprises from ministries and Government agencies that will be transferred to the CMSC. They include Vietnam National Oil and Gas Group (PetroVietnam or PVN), Vietnam Electricity (EVN), Vietnam National Coal and Mineral Industries Group (Vinacomin or TKV), Vietnam Posts and Telecommunications Group (VNPT), Vietnam Airlines and Airports Corporation of Vietnam (ACV).

The 19 SOEs have a total VNĐ2.3 quadrillion ($102.2 billion) worth of assets, including VNĐ1 quadrillion worth of State capital

VITIC & VIA

26-11-2018
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