According to an official dispatch issued on September 9 by Prime Minister Pham Minh Chinh, relevant ministries, agencies, and localities must urgently implement measures to stabilize the market, as well as boost rice production and exports. The directive comes in the context of global market volatility, particularly as the Philippines—which accounts for over 40% of Vietnam’s rice exports—suspended imports for two months starting September 1.
Under the dispatch, the Prime Minister directed the State Bank of Vietnam to instruct commercial banks to increase credit availability for enterprises involved in rice production, processing, purchasing, and exporting to help them capitalize on opportunities and mitigate risks. The Ministry of Finance was tasked with expediting VAT refunds, streamlining customs procedures, and purchasing rice for national reserves to support farmers in reinvesting in production.
The Ministry of Industry and Trade was assigned to maintain traditional markets while expanding into countries with which Vietnam has signed Free Trade Agreements (FTAs), such as the U.S., South Korea, and EU member states, through both direct and online trade promotion channels. Vietnam’s overseas trade offices must enhance their grasp of local regulations and issue early warnings regarding trade barriers to safeguard business interests.

Farmers harvest rice in Can Tho. Photo: Thanh Tran.

The Ministry of Agriculture and Environment is responsible for developing specialized rice cultivation areas, researching high-yield and high-quality crop varieties linked with the "Vietnamese Rice" brand, and investing in storage and processing infrastructure. It will also promote digital application and green production to increase product value. Localities must re-plan production, ensure the supply of agricultural inputs, maintain a balanced seed structure, and foster value-chain linkages to secure stable off-take for farmers.
The Government also mandated close monitoring of export activities to promptly address bottlenecks and support enterprises in executing their contracts.
In the first eight months of the year, Vietnam exported 6.3 million metric tons of rice, generating $3.17 billion. While export volume rose slightly, revenue fell nearly 18% due to lower average prices. The Philippines alone imported 2.6 million tons, remaining Vietnam’s largest buyer. Its temporary import suspension led many exporters in the Mekong Delta to curb purchases and avoid holding large inventories over price and demand uncertainty.
Earlier, the Ministry of Industry and Trade warned businesses against relying excessively on a single market, recommending proactive expansion into China, Indonesia, Malaysia, Africa, and the Middle East. Exporters were also advised to step up long-term contracts, promote official trade channels, and improve product traceability to meet the strict requirements of demanding markets.

Source: https://vnexpress.net/