HANOI — Vietnam has cut the market entry requirements and streamlined licensing procedures for rice businesses, the trade ministry said, in a move apparently aimed at boosting exports.

A government decree issued this week and taking effect from next month will cut business requirements for rice exporters by a third, the ministry said in a statement.

Vietnam, one of the world’s top rice exporters, has experienced declines in both the volume and value of its shipments.

The Industry and Trade Ministry said the rule changes are aimed at simplifying administrative procedures, cutting compliance costs and encouraging the production and export of higher-value rice products.

Licensing times will be shortened and exporters will be required to submit only one regular report each month, compared with three under the current rules, according to the ministry.

The decree also revises rules on export entrustment and strengthens penalties for traders that fail to maintain the required inventory levels or comply with export regulations. It establishes a framework for centralized government-to-government rice contracts and allows authorities to adjust export activity or introduce export price frameworks when necessary to stabilize the market.

Vietnam’s rice exports fell 5.1% year on year to 6 million tons in the first eight months of the year, while export earnings fell 10.8% to $2.9 billion, according to customs data. — Reuters

Published Date: September 28, 2026