The Vietnam Rubber Group (VRG) will invest 55 million USD in growing an additional 20,000 hectares of rubber trees in five Cambodian provinces this year, said its Phnom Penh chief representative Leng Rithy.
The investment is part of VRG’s efforts to fulfil its target of growing 100,000 hectares of rubber trees in Cambodia by 2012.
The group will grow the crop on 8,900 hectares of land in Kampong Thom, 7,500 hectares in Kratie, 1,500 hectares in Ratanakiri, 1,100 hectares in Stung Treng, and 1,000 hectares in Preah Vihear.
According to Leng Rithy, the rubber plantations are expected to begin producing in 2017 with a total output of 150,000 tonnes and 250,000 tonnes in 2020.
Cambodia welcomed Vietnam’s rubber plantation in Cambodia, affirmed President of the Cambodian Rubber Association Mork Kim Hong, saying that it will help promote Cambodia’s economy and generate more jobs for local workers.
By the end of last year, Cambodia had 123,000 hectares of rubber trees, 50,000 hectares of which are yielding 50,000 tonnes of dry latex for export./.