Prime Minister Nguyen Tan Dung has just approved VND30 trillion (US$1.78 billion) for plans to expand its total rubber plantation area by 70,000 hectares to 650,000ha by 2010, producing 800,000 tons of rubber latex.
Under the plan developing rubber cultivation to 2015 with a vision to 2020, the export value of rubber products is expected to reach US$1.8 billion by 2010.
In the next ten years, the figure will be raised to US$2 billion while rubber cultivation area will be kept stable at 800,000ha with rubber latex output of 1.2 million tons.
The plan will focus on the southeast, the Central Highlands, the south central coastal, the north central, and the northwest regions.
The Central Highlands will grow an additional 95,000-100,000ha of rubber trees, becoming the region with the largest new rubber plantations. The southeast region, meanwhile, will plant an additional 25,000ha.
The plan will provide capital for research projects which aimed to select and create new hybrid varieties of rubber.
It will also fund those to import rubber varieties of high yield and quality, and supply enough seeds for nurseries to meet production demand. Enterprises will be encouraged to sign contracts with rubber growers to ensure stable consumption of latex.
The plan seeks to increase investment in latex processing facilities and production of rubber products in cultivation regions.
Trade promotion activities will be undertaken to expand export markets to boost sales of rubber products.
The Government will also encourage individuals and organizations to plant rubber, process latex and produce rubber products.
Vietnam expects to export 700,000 tons of rubber this year and earn about US$1 billion, much less than US$1.6 billion it earned last year. (Investment, Vietnam Agriculture)
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