Legal corridor to be completed to boost rice exports

The Ministry of Industry and Trade will soon finalize a draft decree amending and supplementing the Government Decree No.07 on business and export to complete legal corridor for rice exports and create a transparent and equal business environment for exporters, the Government News has reported.

It is aimed at ensuring food security and promoting sustainable rice production and export, according to the ministry’s Export and Import Department.

To support businesses’ exports, the ministry will continue organizing  trade exchanges and trade promotion activities to introduce Vietnamese rice products and optimize advantages of free trade agreements to diversify markets and improve the competitiveness for the rice industry.

In the first quarter of 2024, Vietnam exported 2.18 million tons of rice, worth $1.43 billion, a year-on-year rise of 17.8% in volume and 45.6% in value, figures from the General Department of Vietnam Customs showed. 

The average export price reached $653.9 per ton, up 23.6% year-on-year.