Agriculture ministers of Việt Nam and the Philippines agreed to establish a rice industry alliance between the two countries and upgrade the trade relationship into an investment partnership.
The Việt Nam Rice Industry Association (VIETRISA) has made its debut at its first congress for the 2023-28 tenure held in the Mekong Delta city of Cần Thơ.
Under a document issued late last week, the SBV has required the institutions to simplify administrative procedures, shorten the time needed to approve loans, and diversify credit products for the rice industry.
The Governor of the State Bank of Viet Nam (SBV) Nguyen Thi Hong has directed commercial banks in the Mekong Delta region to support rice producers and traders to overcome difficulties amid the COVID-19 pandemic.
Despite having great potential, Vietnamese rice-based products remain rudimentary and unpolished, severely hampering their ability to compete on the global market, according to industry experts.
After the Government took steps to prevent rice prices from falling in February, prices have started to inch up in the Cuu Long (Mekong) Delta – the granary of Viet Nam – though not by much.
The Japan Rice and Rice Industry Export Promotion Association on Monday
organised a business-to-business meeting in HCM City aimed at selling
Japanese rice and rice products to Viet Nam.