Prime Minister Pham Minh Chinh has asked ministries and localities to take measures to increase rice production and exports in a transparent, sustainable, and effective manner in the new circumstances.

In a circular sent to ministries and localities on March 2, the Prime Minister asked the Ministry of Agriculture and Rural Development (MARD) to coordinate with localities and business associations to close monitor the rice market and regularly update information for farmers and businesses to proactively prepare appropriate production and trade plans.

Prime Minister Chinh asked the Ministry of Industry and Trade to coordinate with MARD and relevant agencies to develop markets and carry out trade promotion programs to boost rice consumption, help businesses build rice supply chains in connection with logistics services to international markets; and accelerate the launch of a farm produce trading floor, including a rice trading floor.

MARD was also requested to guide the effective implementation of a project developing 1 million ha of high-quality, low-emissions rice linked with green growth in the Mekong Delta by 2030.

The government leader asked the State Bank of Vietnam to direct commercial banks to create the necessary conditions for farmers and businesses to gain access to credit with preferential interest rates to meet credit demand for rice purchase and exports.

Last year, Vietnam exported over 8.1 million tons of rice worth nearly $4.7 billion, up 14.4 per cent in volume and 35.3 per cent in value year-on-year.