Rubber is a spearhead industry in Gia Lai province, and as such has received great care from local authorities. In recent years, thanks to favourable conditions in the world market, rubber enterprises continue to gain a high growth rate. As a result, rubber enterprises, including the Mang Yang Rubber Company, have expanded their business activities.
At present, the Mang Yang Rubber Company has 2,300 workers, 750 of whom are ethnic minority people. The company manages 7,500 hectares, of which 3,900 hectares are exploited. In 2004, apart from tending rubber trees, exploiting and processing rubber latex, the company invested in building a plant for processing ribbed smoked sheets (RSS) with a capacity of 3,000 tonnes per year. The factory is valued at VND 11 billion. Also, the company invested VND 6 billion in building a 20 kilometre road, facilitating the transportation of rubber latex, and offices of plantations.
With proper business strategies, in 2004, the company’s production and business activities gained a high growth rate. Its revenues reached VND 70 billion and its profits stood at VND 24 billion. The company has applied the intensive farming method, so its latex output increase from 3,100 tonnes to 4,200 tonnes.
In 2005, despite difficulties due to unfavourable climatic conditions in early months, the company gained good business and production results. Its total revenues were put at around VND 100 billion. Its pre-tax profits reached VND 29 billion. Also in 2005, the company invested VND 7 billion in road building and VND 6.5 billion in office building. It is building one more latex processing plant with a capacity of 4,500 tonnes. The company bought shares of two enterprises, including the Tourism and Trade Service Joint stock Company and the Trade Service and Investment Joint stock Company. In particular, in 2005, the company was presented the Sao Vang Dat Viet (Vietnamese Golden Star) award for its RSS product in September 2005 by the Vietnam Young Entrepreneurs’ Association.
Furthermore, the company has made a significant in generating budget revenues for the province, helping improve the living standard of labourers. It has actively joined social activities. Accordingly, the company has provided total loans of over VND 1 billion for its workers to expand production and business activities. The company spent VND 750 million in 2004 and VND 500 million in 2005 contributing to social funds, thus helping the province implement poverty reduction programmes. In 2006, the company will invest in building a farm of cows to help its workers and local people to develop production, thus helping them earn higher incomes to escape poverty and hunger.
Thanh Ly
Vietnamese
