10/05/2014

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LAOS: Vietnamese firm begins rubber production in Laos

At the event, representatives from the VRIG said the corporation implemented seven projects to cultivate rubber trees in Laos during the past seven years, and Quasa-Geruco has so far invested USD 33 million in the field.

The company plans to exploit 700 ha of rubber trees this year and it will also build a rubber processing plant with a capacity of 5,000 tonnes per year in the neighbouring country in the time to come.

Apart from its business activities, Quasa-Geruco also pays attention to implementing welfare work in the country. It poured 2.3 billion VND (over USD 108,000) into the construction of roads, a power system, schools and pagoda.

Speaking at the ceremony, Lao Deputy Prime Minister Somsavad Lengsavath spoke highly of Quasa-Geruco's effective operation, saying that it importantly contributes to promoting socio-economic development.

He affirmed that the Lao Government will create favourable conditions for the company to further expand its investment in the future.

Source: Daily "VietnamPlus", Hanoi; 7 May 2014
(Syed Rashid Ali, Karachi, Pakistan)

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