Participants in the groundbreaking ceremony include Lò Văn Tiến, deputy chairman of the Điện Biên Province’s People’s Committee; Lê Thanh Hưng, general director of the Vietnam Rubber Group and people from Hua Thanh, Mường Pồn and Thanh Nưa communes.

The first of its kind in Điện Biên Province, the factory has an investment of VNĐ60 billion which is wholly sourced from the Điện Biên Rubber Joint Stock Company’s funds for production and business; and has a designed capacity of 5,000 tonnes per year.

When coming into operation, the factory is expected to process the whole volume of rubber latex harvested from rubber farms of two companies: the Điện Biên Rubber Joint Stock Company and the Mường Nhé - Điện Biên Rubber Joint Stock Company and rubber latex of small rubber farming households in the province.

Applying advanced, cost-saving, and efficient techniques, the factory will create high-value processed products, bringing profits to investors and contributing to the local budget by fulfilling annual tax and fee payment obligations. It is also expected to meet the market's requirements and catch up with the rubber industry's development trend.   

The factory operation will also help improve the productivity and business efficiency of the company, generating more stable jobs for hundreds of labours who are ethnic minorities in the locality.

The company estimates its contribution to local budget during the 19-year period of factory operation will reach VNĐ31.74 billion (average VNĐ1.67 billion per year from value-added tax and corporate income tax payment), generating jobs to 80-100 workers.

Highly appreciating for efforts of leaders and staffs of the Điện Biên Rubber Joint Stock Company to complete necessary procedures and requirements for the factory construction, representative of the Vietnam Rubber Industry Group thanked the provincial Party Committee, People’s Council, People’s Committee and departments and agencies for their due attention and support for the company over the past time.

To ensure the factory is built as scheduled in accordance to technical standards, and put into operation in the beginning of 2025, the group leader asked the Điện Biên Rubber Joint Stock Company to closely follow, monitor and supervise the construction process, ensuring safety, and minimising impacts on surrounding environment.