Rubber group looks to boost industrial zone development
The Vietnam Rubber Group (GVR) targets to earn revenue and profit of 26.9 trillion VND (1.17 billion USD) and 4.56 trillion VND this year, respectively.
Workers at a processing plant of the Vietnam Rubber Group (Photo courtesy of the group)
Hanoi (VNS/VNA) - The Vietnam RubberGroup (GVR) targets to earn revenue and profit of 26.9 trillion VND (1.17billion USD) and 4.56 trillion VND this year, respectively.
It plans to spend 2.4 trillion VND to pay 2020's dividend at a rate of 6 percent.
Thisyear, the company plans to spend about 2.63 trillion VND on investment, ofwhich about 578 billion VND is invested in basic construction projects and theremaining 2.05 trillion VND is for long-term financial investment.
The information was released at the annual general meeting of shareholders heldlate June.
Responding to shareholders about the roadmap for land conversion in the nearfuture, the management board said that GVR’s main area in the 2021-2025 periodwill be industrial zone development, which is expected to bring more benefitsand profits for the group.
GVR will also continue the traditional business of exploiting and sellingrubber latex and processing and manufacturing industrial wood products.
In the long term, the conversion of rubber plantation land into industrialparks can help GVR become one of the largest industrial developers in the southernregion besides Becamex, Tin Nghia, Sonadezi and VSIP.
Speaking with shareholders about this new segment, the management board saidthat the advantage of GVR was owning an abundant rubber land fund, mainly inthe provinces of Dong Nai and Binh Duong, while the land fund for industrialparks in these areas is inadequate.
It is estimated that the area for lease of industrial land is expected toachieve a 5-year annual compound growth rate (CAGR) of 17 percent, while thecurrent main business of GVR - rubber latex production - only achieves a 5-yearCAGR of 3.6 percent.
GVR will also sell about 2,686 hectares of industrial land in the next fiveyears, an increase of 76 percent compared to the total sales of industrial landin the 2016-2020 period.
By the end of 2020, GVR had managed a domestic rubber area of roughly 87,000hectares.
Last year, the industrial zone segment contributes 1.52 trillion VND in revenueand 821 billion VND in profit./.
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Workers at a processing plant of the Vietnam Rubber Group (Photo courtesy of the group) 
