The rate is expected to hit 92 percent by 2022.

A worker collects latex from a rubber tree

The VRG has built a set of standards and introduced VRG-branded rubber products since 2018, bolstering consumption of its products along with Vietnam’s rubber brand in the international market.

VRG-branded products reached 255,407 tons last year, accounting for 68 percent of the group's total output, from just 20,790 tons recorded in 2018.

The VRG reported 21.17 trillion VND in revenue and 5.23 trillion VND in post-tax profit in 2020, year-on-year increases of 6.9 percent and 36.4 percent, respectively.

Source: VNA