Decree brings small, medium enterprises rice export chances

The Ministry of Industry and Trade yesterday organized a conference to popularize Decree 107 on rice trading and export, saying the decree facilitate small and medium enterprises’ participation in rice export market.

Workers pile up rice bags
Workers pile up rice bags

According to the ministry, the decree has created transparent conditions for businesses by reducing costs while joining in the market. They can hire instead of buying storages and milling facilities as before. The decree also abolishes floor price in rice export and permits businesses to export without registering with Vietnam Food Association.

In addition, the decree encourages investment in making and exporting high quality and high added value products, contributing to the rice industry restructuring and fortifying Vietnamese rice brand names in both domestic and foreign markets.

The ministry reports that Vietnam now has over 140 businesses licensed to export rice.

By mid October, rice export output reached five million tons, up four percent over the same period last. Value was up 17.7 percent.

Major export markets include Asian nations accounting for 67.9 percent of the country’s export volume, Africa 11.7 percent, America 8 percent and the Middle East 6.3 percent.