Vietnam: Rotation mechanism for leading role by rice exporters

Kim Linh

10:30, 05/10/2018

Recently, the Ministry of Finance of Vietnam issued Circular No. 30/2018/TT-BTC elaborating a number of articles of the Government's Decree No. 107/2018/ND-CP on rice export.

According to Circular No. 30/2018/TT-BTC of the Ministry of Finance of Vietnam, rice exporters can conduct their business operations under the rotation mechanism for leading role, involving the participation of at least two traders or more. To be specific:

- Within 01 day from the receipt of the notification of rice import from the importing country, the leading exporter in his/her turn shall submit reports on his/her capacity to win the bidding.

- Within 01 day from the receipt of the written notification of refusal to participate in the bidding from the leading exporter in turn, the other leading exporter in his/her turn shall reach an agreement on his/her participation in the bidding (The exporter who conducts transactions or participates in the bidding instead of the leading exporter in his/her turn as regulated shall not lose his/her turn).

- If all of designated leading exporters refuse to participate in the bidding, the Vietnam Food Association shall submit a report to the Ministry of Industry and Trade and propose other exporters qualified to participate in the bidding to the Ministry of Industry and Trade.

Circular No. 30/2018/TT-BTC of the Ministry of Finance of Vietnam takes effect from November 15, 2018.

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