 |
| Rice being loaded up for transport in the Mekong Delta region__Photo: VNA |
The Ministry of Industry and Trade has proposed a credit rating system for rice exporters to be introduced as a key criterion for selecting companies to participate in government-to-government contracting and for export quota allocation.
The proposal, outlined in a draft decree on rice export business to replace Government Decree 107 of 2018 and Decree 01 of 2025, marks the first time such a credit rating mechanism has been suggested.
Exporters would be rated on a 100-point scale covering factors like credit ranking, tax compliance, customs record, supply chain partnership with farmers, brand development, export performance, inventory, and reporting.
Logistics capacity, workplace safety, fire protection, disaster preparedness, and warehouse standards would also be taken into account under the proposal.
Ratings would be classified into five categories, from 'very high' (80-100 points) to 'very low' (0-19 points).
The Ministry of Industry and Trade would establish a council to access and publish the creditworthiness of rice exporters. These ratings would serve as a basis for allocating contracts and quotas, replacing the current system of even allocation.
Ratings would help enhance prestige of rice exporters, improve competitive advantages and consolidate brands of Vietnamese rice in the international market, the ministry said.
However, a trader warned that the system could favor large exporters with advanced logistics and management, leaving smaller and newer players at a disadvantage. An independent supervision mechanism to ensure fairness in evaluation would likely be needed.
The draft also proposes opening up rice exports to foreign-invested enterprises, providing that they meet prerequisites and obtain licenses.- (VNS/VLLF)
