Vietnam’s rice sector is expected to hit big from exports this year, heard a conference held by the Ministry of Industry and Trade (MoIT) in Ho Chi Minh City on February 21.

Vietnam’s rice export is forecast to continue reaping successes this year as the world's rice prices remain high at least in the short term as global economic and political uncertainties have resulted in a high demand for rice reserves, according to experts.

VOV.VN - Vietnamese rice exports are forecast to see major breakthroughs this year thanks to high export price recorded in 2022 coupled with China's reopening.

Vietnam's industry and trade sector has obtained encouraging results in 2022, contributing to the national socio-economic development. The following is a list of the 10 most outstanding events of the year as selected by the Ministry of Industry and Trade (MoIT).

Vietnam has set a target to double the amount of foreign investment in agriculture to US$34 billion by the end of 2030. However, there were a number of shortcomings and limitations the country must urgently address to realise the goal, according to policymakers and industry experts.

VOV.VN - Vietnam is anticipated to rake in roughly US$3.5 billion from exporting more than seven million tonnes of rice this year, according to industry insiders.

VOV.VN - Bangladesh needs to import rice to meet its local demand, with Vietnam emerging as a potential supplier, Bangladeshi Minister of Food Sadhan Chandra Majumder said during a recent working session with the leadership of the Vietnam Southern Food Corporation (VINAFOOD II).

The Philippines is the top importer of Vietnamese rice during January – September this year, accounting for 43.9% of the country’s total export of the grain, according to the Ministry of Agriculture and Rural Development (MARD).

About 6.07 million tonnes of rice worth US$2.94 billion was exported in the first 10 months of 2022, up 17.2% in volume and 7.4% in value year on year, according to the Ministry of Agriculture and Rural Development (MARD).

Vietnam's food businesses will likely have more opportunities to increase exports thanks to high world demand while leading agricultural-producing countries tend to curb exports.