HOMEPAGE
Hot Properties
ADB: Vietnam’s 2009 GDP growth to be highest in South East Asia
MGM Grand Ho Tram: Vietnam’s First ‘Las Vegas Style’ Integrated Resort
Nha Trang’s Twin Towers project licenced
Foreign investors still have good opportunities in Vietnam
Sierra Wireless gets a foot in Vietnam’s ICT market
INDOCHINA INTERNATIONAL CONSULTING CO., LTD
HO Add: 62L/36 Nguyên Hồng, Ward 11, Bình Thạnh District, HCMC - Vietnam
Biz Office Add: #48 Road No 11, Quarter 6, Hiệp Binh Chánh Ward, Thủ Đức, HCMC - Vietnam
®Source: http://viipip.com should be clearly quoted for any use of information extracted from our website.
Publication permit No: 60/GP-TTĐT , April 05, 2010.
Vietnam removes restrictive regulation on rice exporters
Date: 1/11/2017 1:58:14 PM
The Ministry of Industry and Trade (MOIT) has signed a decision to eliminate the regulation which placed a barrier on rice exporters in the last few years.
Pham Minh Thien, director of Dong Thap-based Co May Private Enterprise, contacted his legal department to ask about the new decision made by MOIT soon after hearing about the ‘good news’.
“I was told that MOIT still has not removed all the business conditions that put difficulties for rice exporters. However, this is still a laudable decision,” he said.
Co May Company sells its branded rice at Singaporean supermarkets. However, since it doesn’t have license for export, the company has to ‘take a roundabout’ by setting up a subsidiary in Singapore to bring Co May branded rice to the country.
“We have just refused a client from Africa also because we don’t have a license for export,” Thien complained.
Under Decision No 6139 issued in 2013, the number of rice exporters must be no more than 150, while rice exporters must meet a lot of requirements in storage, factories and husking capacity. And the mechanism has been removed by MOIT’s decision.
Under Decision No 6139 issued in 2013, the number of rice exporters must be no more than 150, while rice exporters must meet a lot of requirements in storage, factories and husking capacity. And the mechanism has been removed by MOIT’s decision.
This could be the first step for the government to consider removing unreasonable business conditions stipulated in Decree No 109 on rice export management. “I believe that if barriers are removed, Vietnam’s rice will see a boom in the world market like catfish,” he said.
Huynh Cong Nang, general director of Vinafood 2, the largest rice exporter, also commented that this is a good move in the context of the competitive market.
“A breakthrough made by the Minister of Industry and Trade, which shows the role of a ‘constructive government’,” he said.
Meanwhile, Nguyen Thi Tuyet Nhung, president of Phuoc Thanh Bay Map Production & Trade Company, still wants the government to continue removing existing barriers to businesses.
Nhung complained that her company has many years’ experience in doing trade with the US market, but she just had to stop exports because the export license had expired.
“While some other rice exporters cannot export rice because their products are refused by importers, we cannot export just because we don’t have a license,” she said.
Nhung cannot obtain the export license because she cannot satisfy requirements on the storage capacity and husking machines. She will have to spend VND400-500 billion to satisfy the requirements.
According to Nguyen Van Don, director of Tien Giang-based Viet Hung Company, no need for the state to worry that the market would be chaotic once the requirements on material area, storage and processing capacity are removed, because the positions in the market have been cemented.
In related news, China has licensed 22 Vietnamese companies to export rice to the market.
(Source:Vietnamnet news)
Other news- Vietnam will become a destination for Chinese investors in the future (11/6/2023 1:03:19 PM)
- Thua Thien - Hue: Calling for investment (11/6/2023 1:00:42 PM)
- Hai Phong Planning to establish a series of industrial parks and economic zones (11/6/2023 12:58:13 PM)
- The Fastest Growing Economies In 2024 (11/6/2023 12:56:34 PM)
- Hai Phong reached the target of attracting FDI capital (10/17/2023 5:18:21 PM)
- Long An has 1,215 FDI projects with capital of 10,519 million USD (10/17/2023 8:40:41 AM)
- What do FDI enterprises recommend to the Vietnamese Government? (10/17/2023 8:38:33 AM)
- Vietnams 3 commitments to foreign businesses and investors (10/17/2023 8:35:45 AM)
- Up to now (2023), how much money have Asian tigers invested in Vietnam? (10/17/2023 8:31:59 AM)
- Another semiconductor manufacturer expands in Vietnam (10/17/2023 8:30:44 AM)
- Billions of dollars poured into Vietnamese semiconductor projects (10/17/2023 8:26:09 AM)
- Revealing the reason why Central region continuously invested by giants Foxconn, Goertek... (10/17/2023 8:24:49 AM)
- VIFTA: Vietnam-Israel Boulevard opened (8/28/2023 9:29:44 AM)
- Wistron announced to pour another 24.5 million USD into Vietnam to build a new factory. (8/28/2023 9:28:33 AM)
- Formulate policies to develop the logistics industry (8/28/2023 8:50:54 AM)
NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
