Vietnamese firms eye rubber cultivation in Cambodia

Three Vietnamese businesses have teamed up to kick-start a joint stock company that will cultivate rubber in Cambodia.

The Phu Rieng-Karatie Joint Stock Company has a total chartered capital of 200 billion VND. The Viet Nam Rubber Industry Group holds a 40 percent stake in the company, with the Phu Rieng Rubber Company and the Da River Corporation coming in for 30 percent each.

A 70 year lease on nearly 1,000 ha of land in Cambodia’s Karatie province was secured by the firm. Some 300 ha of land has been reclaimed and 100 ha is already having rubber trees.