On April 16, it was reported that recently, the Cambodia Development Council held an important meeting with senior officials of the Vietnam Rubber Group (VRC). This meeting mainly focused on VRC's investment plan in Cambodia and its in-depth layout in the country's rubber industry.
It is reported that Le Quang Zhongyi, General Manager of Vietnam Rubber Group, met with Sun Zhanto, Deputy Prime Minister of Cambodia and First Vice Chairman of the Development Council, earlier this month. This meeting not only involved VRC's existing investment projects in Cambodia, but also looked forward to the potential and direction of future cooperation. The two sides had in-depth exchanges and discussions on how to further promote cooperation between the two countries in the rubber industry.
According to the Carbon Black Industry Network, Vietnam Rubber Group, as a state-owned enterprise in Vietnam, began its industrial layout in Cambodia as early as 2007. To date, the group has controlled more than 90,000 hectares of land through its 16 subsidiaries in Cambodia, most of which has been designated as economic concessions. It is worth mentioning that 74,000 hectares of land have been planted with rubber trees and can produce more than 100,000 tons of latex every year.
In addition, VRC's rubber plantations are located in many regions in Cambodia such as Kratie County, Rattanakiri Province, Kampong Thom Province, Mondulkiri Province, Siem Reap Province, Odo Meanchey Province and Preah Vihear Province. In order to further improve the industrial chain, the group has also established 6 latex processing plants in Cambodia, distributed in Kampong Thom, Kratie and Rattanakiri provinces.
In addition to industrial investment, VRC also attaches great importance to local employment and has provided jobs for more than 20,000 Cambodia workers, making significant contributions to local economic and social development.
As China's second largest rubber supplier, Vietnam's position in the Chinese market is second only to Thailand, accounting for about 20% of China's total rubber imports, mainly natural rubber. In view of the huge demand for rubber in the Chinese market, the Vietnamese government is actively encouraging its rubber companies to expand investment in Cambodia to increase the production of natural rubber to better meet the needs of the Chinese market.
