Despite the challenges of 2020 amid the COVID-19 pandemic, VRG Khai Hoan and Ben Thanh Rubber JSC achieved outstanding business results, far exceeding the targets set by the Vietnam Rubber Group (VRG).
The group’s rubber industrial product segment has continued to make an important contribution to overall performance, with five rubber industrial companies generating a total estimated revenue of VND 2,689 billion in 2020.
VRG Khai Hoan Achieves Exceptional Business Performance
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In southern Vietnam, there are five medical glove manufacturers — four of which are based in Binh Duong Province. Among them, only VRG Khai Hoan JSC currently meets the technical standards and licensing requirements to export to the U.S. and European markets, where demand for medical gloves has surged due to COVID-19.
In 2020, VRG Khai Hoan reported:
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Production: 2.437 billion gloves (+2% plan)
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Sales volume: 2.671 billion gloves (+5% plan)
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Revenue: VND 1,839 billion (+28% plan)
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Pre-tax profit: VND 445 billion (+197% plan)
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Post-tax profit: VND 356 billion (+97% plan)
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Tax contribution: VND 91.2 billion (+255% plan)
The company also ensured stable employment for 1,250 workers, with an average monthly income of VND 12.7 million, and contributed nearly VND 800 million to social welfare programs.
“In 2021, we aim to achieve even higher production and revenue targets, preserve and grow assigned capital, and improve employee livelihoods,” said Mr. Duong Duy Phu, General Director of VRG Khai Hoan.
The company’s 2021 plan includes:
Production: 2.408 billion gloves
Revenue: VND 2,251 billion
Pre-tax profit: VND 580 billion
Post-tax profit: VND 464 billion
Tax payment: VND 118 billion
Ben Thanh Rubber Expands Market and Diversifies Products
Thanks to active marketing and customer engagement, Ben Thanh Rubber JSC saw rapid sales growth in industrial conveyor belts during 2020.
Key performance indicators:
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Revenue: VND 289.5 billion (+10.5% plan)
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Profit: VND 26.5 billion (+10.4% plan)
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Tax payment: VND 28.7 billion (+2.5% plan)
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Average income: VND 11.3 million per worker/month (+10.8% plan)
The company also donated VND 250 million to social welfare causes.
Ben Thanh’s products are trusted both domestically and internationally — supplying steel-cord conveyor belts to sectors such as mining, cement, fertilizer, and machinery, while exporting to markets including the U.S., Japan, Australia, and Indonesia.
“We are pursuing two strategies — focused growth and diversified development,” said Mr. Nguyen Tran Nghiem Vu, General Director of Ben Thanh Rubber.
“The first focuses on optimizing current products and markets, while the second invests in innovation, technology, and new customer segments — a suitable path for our technical rubber products.”
Dorufoam: Strengthening Brand Recognition Through Quality
Despite limited production scale, other VRG industrial subsidiaries — such as Dong Phu Rubber Technical JSC (Dorufoam) — have strengthened brand trust through high-quality products like latex pillows and mattresses made from 100% natural rubber and free from harmful chemicals such as TMTD, a known allergen and carcinogenic compound.
Dorufoam currently operates 2 showrooms, 6 branches, and a nationwide network of over 350 first-tier distributorsacross 50 provinces. The company has partnered with CJ Group (South Korea) to distribute products both online and internationally through CJ’s retail channels.
Building a Unified VRG Industrial Brand
According to Mr. Huynh Tan Sieu, Head of VRG’s Industrial Division:
“Rubber industrial product manufacturers must establish a long-term strategy — creating a unified VRG brand with consistent quality standards, expanding markets, and improving competitiveness through innovation and cost control.
Collaboration and investment partnerships will be promoted to scale up production once stability and efficiency are achieved.”
With strong business performance, strategic partnerships, and commitment to sustainability, the VRG industrial product sector continues to serve as a key driver of growth within the Vietnam Rubber Group.