The Phu Rieng-Karatie Joint Stock Company has a total chartered capital of VND200 billion with VRG keeping 40 per cent stake, Phu Rieng 30 per cent and the Song Da with 30 per cent.
Phu Rieng signed contract to rent 10,000 hectares of land in Karatie province. Last year, it received license to use 1,000ha within 70 years and is now planting 100ha of rubber trees.
The joint venture sets target to cover more 200ha of rubber this year, said its chief of executive, Nguyen Hong Phu, who also acts as director of the Phu Rieng Rubber Co.
The establishment of Phu Rieng-Karatie JSC is part of Vietnamese rubber industry’s strategy to grow 100,000 ha of rubber in Cambodia by 2015, which will also be carried out by the Tay Ninh Rubber Shareholding Co, Loc Ninh Rubber Co., and Binh Long Rubber Co.
For the target at 100,000ha of rubber in Laos’s four provinces of Champassak, Salavan, Atopu and Sekong, VRG has cooperated with its seven affiliates to set up two companies: the Vietnam-Laos Rubber Joint Stock Company and the Quasa-Geruco Company.
The companies have to date grown 58,000ha of rubber trees in Laos. (Vietnam & World Economy)