Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade BCHUSD, Bitcoin and Cryptocurrencies

BUY & SELL BCHUSD | View BCHUSD News & Updates


Buy Sell BCHUSD, Bitcoin and Cryptocurrencies

Banks to back rice production   2010-02-09 - Viet Nam News

Prime Minister Nguyen Tan Dung has directed ministries, sectors, food corporations and the Viet Nam Food Association to develop support for this year's domestic rice production and export activities.

. . . State commercial banks must meet loan requests that will help with the purchase of rice for domestic consumption and exports.

According to the Prime Minister's official letter No 221/TTg-KTTH, State commercial banks must meet loan requests that will help with the purchase of rice for domestic consumption and exports.

The Ministry of Finance must work with the People's Committee in provinces and the Viet Nam Food Association to set up an information system with updated information about production costs, farmer's selling prices and export prices for rice.

"The move will help with the management of rice production and consumption to ensure the interest of farmers and to stabilise the price of rice on the domestic market," Dung said.

Ministry of Industry and Trade and the inter-ministerial rice export management team would instruct State food corporations to enhance transactions and sign large-volume rice export contracts to effectively use the winter-spring and summer-autumn rice crops this year, he said.

They should boost trade promotion activities and development of the rice export market, and keep an eye on how the domestic and international rice markets develop.

Meanwhile, the VFA must intensify its efforts to seek new export markets and customers for 2010 and 2011, he said. The association must also work with relevant offices to deliver sufficient export products according to set schedules and to stabilise prices for services related to rice export activities.

Provincial People's Committees are responsible for supporting local enterprises in the purchase and distribution of rice by co-ordinating the duties of the ministries of Agriculture and Rural Development, Industry and Trade and Finance with the management team and the VFA. This co-ordination effort will also help control the export price for rice, improve export rice quality and help supply agricultural materials.

Truong Thanh Phong, VFA chairman, said Viet Nam rice exports in 2010 would face many difficulties, making it hard to forecast the final numbers.

To meet the Government's requirement of ensuring farmers' interests, the VFA planned to set up an investment fund this year to improve the quality of rice and guarantee income for the farmers, Phong said.



Other news

BUSINESS IN BRIEF 9/2   2010-02-09

Stock market expected to reach 700 points in 2010   2010-02-09

Jan auto sales increase 76%   2010-02-09

HCM City fund invests in real estate developers   2010-02-09

Viet Kieu home for Tet with investment on their minds   2010-02-09

Jewellery firm supports gold   2010-02-09

Toyota Vietnam chooses to ignore accelerator issues   2010-02-09

Black market for small bills soars   2010-02-09

Food prices jump as Tet draws near   2010-02-09

Biggest gold outfit imports 4 tons to keep prices in check   2010-02-09

Interest rate and exchange rate in the view of the Governor   2010-02-09

Suing the USA at WTO: “We considered this step very carefully”   2010-02-09

Biggest gold outfit imports 4 tons to keep prices in check   2010-02-09

Vietnam supports formation of global cashew association   2010-02-09