The Ministry of Finance (MoF) has suggested suspending exports of low-grade rice until June 15 to ensure purchase for the national reserves.
Rice is one of the rare commodities that is not being seriously affected by the COVID-19 pandemic, with both export volume and value increasing in the first two months of 2020.
Vietnam is enjoying strong growth in both rice export volume and value, and more export chances are still ahead as some free trade agreements (FTAs) have come into force and consumers around the globe are boosting purchase to ensure food security amid the COVID-19 outbreak.
Vietnamese enterprises see a chance to export 20,000 tonnes of rice to Egypt, according to the Ministry of Industry and Trade’s Import-Export Department.
The State-run Vietnam Southern Food Corporation (Vinafood II) raised nearly VND1.16 trillion (US$51.1 million) from selling 22.97% of its stakes at an initial public offering (IPO) on March 14.
T&T Group expressed interest in buying the 125 million shares (representing 25 per cent of the charter capital) on offer to become the strategic investor of Southern Food Corporation (Vinafood 2).
The Ministry of Agriculture and Rural Development (MARD) estimates to earn VND664 billion ($29.25 million) after the auction of Vietnam Sugarcane and Sugar Corporation II JSC (Vinasugar II).
The progress of equitisation of State-owned enterprises (SOEs) in the first six months of this year was slower than the same time last year with only 19 SOEs receiving approval for their equitisation plan by mid-June.
Vinafood 1 and Vinafood 2 want to be exclusive bidders for government-to-government (G2G) rice export contracts, but analysts warn of the dangers of a monopoly.
In the next round of equitisation, State capital must be sold faster, at higher value, and the enterprises’ corporate governance must further improve, Deputy Prime Minister Vuong Dinh Hue has said.
The Ministry of Agriculture and Rural Development (MARD) has set a shrimp export target of US$10 billion by 2030.
Investors can look forward to plenty of opportunities as Vietnam Rubber Group (VRG), Vinafood 2, and many more companies where the Ministry of Agriculture and Rural Development (MARD) represents the state holding, will put up to 100% stake up for public auction in 2017.
The Prime Minister’s newly released decision on the divestment plan in 2016-2020 includes many large corporations such as VNPT, MobiFone, Agribank and Vinacomin.
Since Vietnam heavily relies on China, a major import/export market, it has encountered difficulties as China has tightened cross-border imports and set barriers to Vietnamese farm produce.
VOV.VN - The Ministry of Industry and Trade (MoIT) has asked the Philippine government to boost its imports of rice and give priority to renegotiating a government to government trade deal set to expire at the end of the year.
(VOV) - Although Vietnam was the second-largest rice exporter in the world for 2014, it is in urgent need of investment to develop a national brand to increase the value of its rice harvests.