The Deputy Minister of Agriculture and Rural Development, Ho Xuan Hung stated this at the Association of Natural Rubber Producing Countries (ANRPC)’s annual conference in Ho Chi Minh City on November 4.
In June 2009, the Vietnamese Government adopted a plan to develop rubber plantations on 800,000ha of land in north-western and central coastal regions. Rubber products contributed almost US$1 billion to Vietnam’s total export revenue in 2009, despite price reductions due to the global economic crisis.
The Vietnamese Government is interested in ways of stabilizing the prices of natural rubber as exporters may face a fall in demand and other difficulties in the next few years.
Apart from preparing to be admitted to the International Tripartite Rubber Council, Vietnam will let domestic businesses, especially the Rubber Industry Group; buy between 100,000-200,000 tonnes of rubber to stockpile when the prices drop.
Vietnam plans develop a number of industrial products from latex in the coming decade and is willing to work with other ANRPC members to manufacture such products.
The nation is also interested in building factories to manufacture other industrial products from natural rubber materials through joint ventures. The Vietnamese Government is currently offering a number of land lease and preferential tax policies to attract foreign investment to this sector.