Ho Chi Minh City National Assembly Delegation Inspects Vietnam Rubber Group

On the afternoon of January 12th, the Ho Chi Minh City National Assembly Delegation conducted a survey on the implementation of policies and laws regarding state-owned enterprises at the Vietnam Rubber Group (VRG). This survey took place in the context of Resolution No. 79-NQ/TW issued by the Politburo on the development of the state economy and the previously enacted Law 68/2025 on the Management and Investment of State Capital in Enterprises.

Mr. Nguyen Van Loi, Head of the Ho Chi Minh City National Assembly Delegation and the survey team, expressed his desire to listen and address challenges faced by enterprises through institutional improvements. He emphasized that institutions are resources and drivers of national development.

Mr. Tran Cong Kha, Chairman of VRG’s Board of Directors, reported promising business results for 2025, with revenue reaching 32 trillion VND and profits exceeding 6.5 trillion VND.

Beyond its core business of rubber cultivation and exploitation, VRG’s Chairman outlined the group’s vision to become a powerful economic conglomerate. This includes developing next-generation industrial zones, investing in renewable energy, and advancing high-tech agriculture, thereby reinforcing the leading role of state-owned enterprises in the economy.

VRG’s projects actively contribute to building new rural areas, providing employment, stable livelihoods, and social welfare for workers and surrounding communities. These efforts also help eliminate outdated customs, promote industrial work ethics, and support ethnic minorities in settling and stabilizing border regions, ensuring political and defense security.

Mr. Le Thanh Hung, CEO of VRG, added that the group is 97% state-owned and ranks among the 18 largest state-owned conglomerates in the country.

VRG manages a vast land area of approximately 400,000 hectares, including 285,000 hectares domestically and 115,000 hectares in Cambodia and Laos.

In its core sector, VRG proposed that the government recognize rubberwood post-harvest as a primary product rather than a fixed asset subject to auction. This change would streamline cost structures and improve worker income.

In Ho Chi Minh City, VRG and its subsidiaries have submitted investment proposals for 8 industrial zones and 12 industrial clusters, totaling 4,300 hectares. VRG is prepared to accept lower profits and offer competitive rental rates to attract investors in priority sectors identified by the government and local authorities.

Mr. Hung highlighted VRG’s significant potential in renewable energy, particularly by leveraging the extensive rooftop areas of its workshops (approximately 1,400 rooftops covering 1,360 hectares in Ho Chi Minh City alone) for solar energy development.

He urged Ho Chi Minh City authorities to streamline administrative procedures to enhance collaboration between VRG and the city.

Concluding the survey, Mr. Nguyen Van Loi commended VRG for overcoming challenges and achieving outstanding results in resource management and economic contributions. He encouraged VRG to continue partnering with Ho Chi Minh City in developing industrial, urban, service, and technology corridors, while also focusing on social welfare, defense, cultural development, and societal stability.

Additionally, VRG was urged to prioritize innovation, digital transformation, and smart, transparent corporate governance.