Hanoi (VNA) ൩– The rising demands for rice in internationalmarkets and higher prices are benefiting rice exporters as the number of orders has increased sharply.
According to Bui Thi Thanh Lam, Vice Chairwoman of the Vietnam FoodAssociation (VFA), Vietnam has enjoyed many advantages in rice exports in 2022 and2023. In the first six months of the year, riceexports reached 4.27 million tonnes worth 2.3 billion USD, up 22.2% in volumeand 34.7% in value over the same period last year. The Philippines remained the largest rice importer ofVietnam, followed by China. Indonesia has just opened a bid package for 300,000tonnes of rice which not only boosts the export market for Vietnam butalso pushes up rice prices. According to the Ministry of Industry and Trade, the export prices of rice have been continuously revised up since mid-July. Only in the first two tradingsessions of the week, Vietnam's export rice prices had two consecutive upward adjustmentswith an increase of 15 USD per tonne. Specifically, on July 19, the country’s 5% broken rice was offeredat 528 USD per tonne and Vietnam’s 25% broken rice price was 508 USD per tonne,about 20 USD higher compared to those at the beginning of the month.
In the first six months of the year, rice exports reached 4.27 million tonnes worth 2.3 billion USD, up 22.2% in volume and 34.7% in value over the same period last year. (Photo: VNA)
Talking about the prices of Vietnamese rice from now until the endof this year, Hoang Thi Van, an economist at the Institute of Economics and Finance, said that the amounts of rice exported by India, Pakistan and Thailand this yearmay continue to be limited due to the drought caused by El Nino phenomenon. Itis expected that Vietnam's rice exports this year may continue to exceed 7million tonnes. Nguyen Thi Quynh Hoa, from the Vietnam Institute of Strategy and Policyfor Industry and Trade, suggested a number of solutions to maintain theadvantages in rice exports.
First, it is necessary to perfect institutions and policies topromote exports and expand markets. She underlined the need for relevant agenciesto review mechanisms for managing rice export trading activities in line with movementsof domestic and international markets, ensuring its effectiveness along with nationalfood security.
ꦦ Second, attention should be paid to developing quality andsustainable rice supply. Specifically, mechanisms should be issued to encourageand create favourable conditions for research, selection and breeding ofhigh-yield and high-quality rice varieties such as fragrant rice and famous brands, namely ST24 and ST25.
Market information work should be strengthened along with tradepromotion, she added. Hoa also said that it is necessary to invest in upgradinginfrastructure and logistics systems for rice exports as well as developingdigital infrastructure and e-commerce./.
The chance has come and doesn’t wait any, so it is necessary seize it to step up rice export, Minister of Agriculture and Rural Development Le Minh Hoan told this ministry’s meeting on July 6.
Although Vietnamese rice has been exported to 150 countries and territories, markets for the product are mainly Asian countries and thus need to be diversified, according to experts.
In a recently published report, HSBC Vietnam posits that the recurring El Niño, after an absence of three years, could heighten the threat of droughts, water scarcities, and potential disruptions in trade across the ASEAN region.
The export of rice, fruit and vegetables to China and other markets posted a remarkable surge by 34.7% and 64.2%, respectively in the first half, said an official during a meeting of the Ministry of Agriculture and Rural Development (MARD) in Hanoi on July 19 to review the market situation and launch tasks for the coming quarters of this year.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image. (Photo: VNA) 
In the first six months of the year, rice exports reached 4.27 million tonnes worth 2.3 billion USD, up 22.2% in volume and 34.7% in value over the same period last year. (Photo: VNA) 
