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Ms. Nguyen Thi Tuyet Ngoc, Director of the Agricultural Index Company, speaks about the trading floor |
This event is within the framework of the first Mekong Start-up Forum in 2022 in Dong Thap Province, with the theme ‘Modern, circular, low-emission agriculture’ organized by the People's Committee of Dong Thap province in collaboration with the Ministry of Agriculture and Rural Development.
According to Ms. Nguyen Thi Tuyet Ngoc, Director of the Agricultural Index Company, the Department of Industry and Trade of Dong Thap Province had advised the establishment of the trading floor and the provincial Trade and Investment Promotion Center promised to support the development of business participants.
The project aims is to connect all participants in the rice cycle in Dong Thap Province in particular and the Mekong Delta provinces in general with commercial hubs across the country.
Thereby, it is hoped to create a useful technology platform and bring higher surplus value from rice.
This project is expected to create a circular ecosystem for the rice industry and bring practical benefits to units and businesses participating in transactions on the exchange including benefits such as transparent trading information, support quality control, optimizing warehousing and transportation costs and providing financial solutions to ensure safe and legal transactions.
It is expected that in March 2023, the project will be officially licensed to go into operation, with more than 300 trading businesses with an offering volume of about 50,000 tons per month and 50 percent of rice volume will be successfully sold in transactions in the floor. Furthermore, all transactions ensure the principles of transparency and lawfulness.
The project implementation is divided into three phases. Phase 1 will be a pre-feasibility study from June 2022 to December 18, 2022, and the test will be run later. Currently, 125 enterprises in the South and 8 firms in the North have registered to participate in the trial on the trading floor with a volume of 20,000 tons a month and 100 transactions are expected to be successful a day.
After the trial operation phase, the exchange will complete the application and apply for a license at the Department of E-commerce and Digital Economy under the Ministry of Industry and Trade.
