Rice exports set to jump, renewable energy in high demand: Vietnamese trade minister

Vietnam may take a global lead in rice exports in 2020, a trade report to the National Assembly on Monday showed. 

Vietnamese rice being loaded for export. High demand for food set the stage for Viet Nam to take the lead in global rice this year. 

Viet Nam may take a global lead in rice exports for the year 2020, said Minister of Industry and Trade Tran Tuan Anh in a report to the National Assembly on Monday.

Speaking to the NA, the minister said as countries were trying to raise food stockpiles due to the COVID-19 pandemic, demand for Vietnamese rice has been on the rise, pushing the country's rice exports in the first two months of the year to increase by 31.7 per cent from the same period last year.

Adverse effects caused by climate change, such as droughts and salinisation raised concerns over the country's ability to maintain its level of rice export. As a response, the Government ordered a halt to rice exports until May so that further studies can be done on Viet Nam's rice production and stockpile.

After studies revealed large rice stocks in the Mekong Delta and reviews done on the country's obligations with trade partners, Governmental ministries and agencies have asked for the Prime Minister's approval to continue Viet Nam's rice export activities.

Anh said the country maintained an export quota of 400,000 tonnes of rice in April and is set to resume its normal export level for May as global demand for rice remained high while making sure there is ample supply for the domestic market.

During the first five months of the year, Viet Nam exported over three million tonnes of rice, an increase of 11.8 per cent from the same period last year, reaching US$1.48 billion in value, a 25.44 per cent year on year increase.

Renewable energy

Viet Nam considered renewable energy, and solar energy in particular, an important source of power, especially for the 2024-25 period in which the country is forecast to face a severe shortage, according to Anh.

It called for adjustments made to the country's power production planning including new policies and incentives to encourage investments in solar and wind energy.

To date, the country has put into operation 90 solar energy projects with over 5,000MW in output. The Government has also shown its support with the approval of a plan to add over 11,000MW of renewable energy in the future.

 

Key infrastructure

Over VND37.5 trillion, or US$1.6 billion, in funding was earmarked for key infrastructure projects across the country in 2020, according to Minister of Transport Nguyen Van The.

By the end of May, VND12 trillion has been disbursed, an increase of more than 10 per cent from the same period last year, and reached 30.8 per cent of this year's target amount, said the minister in a report to the NA.

On the national North-South Highway project, the ministry said it has allocated nearly VND17 trillion to the project. Of which, VND2.7 trillion was set for the project's East sections.

Over VND17 trillion was also set for the Long Thanh International Airport. In a recent meeting with southern Dong Nai Province - the airport's location - the local authority has pledged to finish site clearance by the end of 2020 at the latest to provide the project with more than 1,810 hectares of land.

According to the minister, improving infrastructure networks remained a top priority for the country, especially for the Mekong Delta.

The ministry said it has been working closely with local governments in HCM City, Can Tho, Ca Mau and Kien Giang on the development of a number of key projects including HCM City's Belt Road 3 and 4 as well as inter-province roads connecting the Mekong Delta's economic hub with other provinces in the region.

In the central and Central Highlands regions, the transport ministry, in cooperation with the Ministry of Planning and Investment, is working on a plan to add an additional 700km of road on top of the existing 654km to form a connection between Ha Noi and HCM City in the form of a highway that spans over 1,700km in length. Other routes that were due for an upgrade in the highlands include national routes 19, 24 and 25.

The Ha Noi region will also see the construction of Belt Road 4 and 5, connecting the capital city to surrounding northern provinces. A number of highways including the Ha Noi-Huu Hghi-Chi Lang, Van Don-Mong Cai and Dong Dang-Tra Linh, Hoa Binh-Moc Chau and Lai Chau-Lao Cai have been set as priorities. — VNS

Vietnam expected to surpass Thailand in rice exports

Vietnam expected to surpass Thailand in rice exports

Since May this year, Vietnam’s rice export activities have returned to normal, with the month recording the highest rice export price seen in recent years and paving the way for the country to outpace Thailand in global rice exports in 2020.

Philippine pivot does not impact on Vietnamese rice export

Philippine pivot does not impact on Vietnamese rice export

After a year letting the private sector import rice on a “tax-based mechanism” instead of a quota-based mechanism in line with the G2G regime, the Philippine side is considering a comeback to the previous regime to import 300,000 tons of rice. 

 
 

Other News

.
More sci-tech content in upcoming China-ASEAN Expo
More sci-tech content in upcoming China-ASEAN Expo
BUSINESSicon  06/09/2021 

The whole universe hidden in the VR glasses, magnificent images shown on transparent screens, unmanned aircraft applied in seeding and fertilization..., sci-tech exhibition has become the new hot spot in the China-ASEAN Expo (CAEXPO) in recent years.

VIETNAM BUSINESS NEWS SEPTEMBER 4
VIETNAM BUSINESS NEWS SEPTEMBER 4
BUSINESSicon  04/09/2021 

Vietnam scores high in employee experience

Foreign investors keen on education
Foreign investors keen on education
BUSINESSicon  04/09/2021 

Overseas funds continue to cash in on Vietnam’s education sector with a view to diversify investment portfolios.

Rice exporters feel strain of restrictions
Rice exporters feel strain of restrictions
BUSINESSicon  04/09/2021 

The disruption of the production chain in the past few months is pushing rice exporting and processing companies into an increasingly difficult situation.

Garment and textile groups bemoan curbs
Garment and textile groups bemoan curbs
BUSINESSicon  04/09/2021 

With the autumn-winter season coming up, Vietnam’s garment and textile industry could cash in on the increased demand for clothing. 

CAEXPO embraces RCEP opportunities
CAEXPO embraces RCEP opportunities
BUSINESSicon  04/09/2021 

Cooperation is deepened to improve substantial economic and trade results.

E-commerce platform imports billions of US dollars of Chinese goods
E-commerce platform imports billions of US dollars of Chinese goods
BUSINESSicon  04/09/2021 

The Vietnamese Ministry of Finance believes that it is necessary to have regulations to control exports and imports transacted through e-commerce platforms.

Experts propose solutions to supply chain disruptions caused by COVID-19
Experts propose solutions to supply chain disruptions caused by COVID-19
BUSINESSicon  03/09/2021 

A group of experts of the Hanoi-based National Economics University have put forward several immediate solutions to remove bottlenecks and connect disrupted supply chains that have impacted localities hit by COVID-19.

Agriculture Ministry to open new path for farm produce sales
Agriculture Ministry to open new path for farm produce sales
FEATUREicon  04/09/2021 

“We have to figure out a new ‘farm produce path’ that allows us to connect fields and markets,” said Minister of Agriculture and Rural Development Le Minh Hoan.

VIETNAM BUSINESS NEWS SEPTEMBER 3
VIETNAM BUSINESS NEWS SEPTEMBER 3
BUSINESSicon  03/09/2021 

Bubbles heap pain on vital manufacturers

Five-year restructuring plan aims to improve national economic competitiveness
Five-year restructuring plan aims to improve national economic competitiveness
BUSINESSicon  04/09/2021 

The Ministry of Planning and Investment has said that it is coordinating with relevant ministries, agencies and localities to build a national economic restructuring plan for the 2021-2025 period, 

On-line CAEXPO: Exploiting potential of Internet for new growth
On-line CAEXPO: Exploiting potential of Internet for new growth
BUSINESSicon  03/09/2021 

On the platform of on-line China-ASEAN Expo (CAEXPO), ASEAN Pavilion, China Pavilion, and other virtual pavilions can be found on the homepage.

Offshore wind power: unpredictable 'waves' as investors wait for decision on tariff
Offshore wind power: unpredictable 'waves' as investors wait for decision on tariff
FEATUREicon  03/09/2021 

Many offshore wind power investors are holding their breath waiting for the next move of the Ministry of Industry and Trade and the Government.

Vietnam Airlines pilots IATA Travel Pass on flight to Europe
Vietnam Airlines pilots IATA Travel Pass on flight to Europe
BUSINESSicon  03/09/2021 

National flag carrier Vietnam Airlines successfully piloted the IATA Travel Pass on a flight from Hanoi to London on September 2 with the participation of 18 passengers.

Online Vo So platform sells food in HCM City
Online Vo So platform sells food in HCM City
BUSINESSicon  02/09/2021 

After HCM City resumed operation of goods delivery services on August 31, Viettel Post and Vo So e-commerce platform opened an "online market" to provide food and essential goods for people at hcm.voso.vn.

VIETNAM BUSINESS NEWS SEPTEMBER 2
VIETNAM BUSINESS NEWS SEPTEMBER 2
BUSINESSicon  02/09/2021 

Online trade promotion is currently considered as an effective solution for businesses to maintain contacts with their export markets and also a tool to learn about market trends, developments and demand.

Vietnam boosts high-tech industry
Vietnam boosts high-tech industry
BUSINESSicon  02/09/2021 

Vietnam has targeted mastering a number of high technologies to form an ecosystem of enterprises producing high-tech products, and put them into production to increase the export value of high-tech products by 2030.

Government urged to loosen restrictions, speed up vaccinations to save economy
Government urged to loosen restrictions, speed up vaccinations to save economy
FEATUREicon  02/09/2021 

Economic indexes show the situation is getting worse in the country. The most concerning issues are social distancing extensions and other restrictions.

Standard Chartered revises down Vietnam’s 2021 GDP growth forecast to 4.7%
Standard Chartered revises down Vietnam’s 2021 GDP growth forecast to 4.7%
BUSINESSicon  02/09/2021 

Standard Chartered has revised down its forecast for Vietnam’s gross domestic product (GDP) growth this year from 6.5% to 4.7%.

Experts discuss obstacles for rooftop solar power
Experts discuss obstacles for rooftop solar power
BUSINESSicon  01/09/2021 

Solar experts have raised difficulties and problems in policies and procedures for investment, installation and operation of solar power systems in Vietnam at a seminar.

 
 
 
Leave your comment on an article

OR QUICK LOGIN