The Viet Nam Rubber Group (VRG) should further invest in the rubber processing industry and science and technology, and develop infrastructure projects.

Photo: VNA

Prime Minister Nguyen Tan Dung made the statement at a ceremony to honour the group with the Gold Star Order for its contributions to the industry in HCM City yesterday.

Dung highly valued the group and the domestic rubber industry for their achievements, contributing to the country's development.

He said the VRG had developed 300,000ha of rubber plantations in Viet Nam and more than 200,000ha overseas, compared to just 40,000ha after the war.

The group's production has continued to increase despite the global economic downturn with an average annual increase of 6 per cent in area and 10 per cent in productivity from 2001-10.

Export turnover has increased by more than 30 per cent per year, and hit nearly $3 billion last year.

The PM asked the industry to strive to expand the country's rubber area to 1 million ha by 2015 of which the group would account for nearly half.

He urged the VRG to improve the quality of Vietnamese rubber, promote exports and expand its markets.

The group's general director Tran Ngoc Thuan said they would focus on restructuring to improve effectiveness and develop its scale to 500,000ha to provide jobs for 175,000 workers./.