Regarding the amendment of Decree 107 on rice export business issued in 2018, Minister Nguyen Hong Dien stated that the draft Decree 107 has been actively developed by the Ministry over the past year and is currently in the process of seeking opinions from government members for finalization.

During the final question-and-answer session on the field of Industry and Trade on the morning of June 5 at the National Assembly, Representative Nguyen Thi Kim Anh (Bac Ninh) questioned the amendment of Decree 107 on rice export to enhance competitiveness for Vietnamese rice exports.

In response, Minister of Industry and Trade Nguyen Hong Dien confirmed that Decree 107 on rice export business has revealed some shortcomings in its implementation, prompting the government to instruct the Ministry of Industry and Trade to amend it. The Ministry is currently in the process of finalizing the draft amendment. The amendment focuses on several key areas:

Firstly, the amendment will revise and supplement regulations on statistical reporting, export contracts, and contract execution, aiming for stricter requirements and higher penalties to deter traders who are slow or fail to comply with reporting obligations.

“Recently, there have been instances where exporting companies bid at low prices without reporting, making it difficult for the Ministry to monitor. This regulation is being amended to increase responsibility and deter exporters,” the Minister said.

"Minister Nguyen Hong Dien"

Second, amend and supplement the regulations on the time for post-inspection by the Department of Industry and Trade after receiving the rice export certificate. This regulation enhances the responsibility of local authorities.

Third, amend and supplement the mechanism and specific methods of coordination between ministries, local authorities, and relevant agencies in managing rice exports, ensuring compliance with principles and effectiveness in policy implementation.

Fourth, add measures to develop the market and promote trade for Vietnamese rice. This includes issuing a trade development program and trade promotion activities specifically for rice and rice products.

Fifth, clarify regulations on export delegation and receiving delegation for rice exports. Delegating and receiving delegating traders must have certification and the right to conduct rice export business to carry out these activities.

Vietnamese Rice Dominates the Philippine Market

According to the Bureau of Plant Industry - Department of Agriculture of the Philippines, rice imports into the Philippines reached nearly 2 million tons in the first 5 months of 2024, significantly higher than the same period in 2023.

In the Philippine market, Vietnam remains the largest rice exporter with a production of up to 1.44 million tons, accounting for nearly 73% of the market share as Filipinos favor Vietnamese rice varieties such as DT8 and OM5451.

According to the latest data from the Ministry of Agriculture and Rural Development, in the first 4 months of the year, the Philippines is the largest market for Vietnamese rice, with a 45.9% share of exports, equivalent to 1.49 million tons and a value of 935.6 million USD, representing a 15.9% increase in quantity and a 44.7% increase in value compared to the same period in 2023.

Source: Vietstock