Vinafood 2 to export 2 million tons of rice to Philippines
The Vietnam Southern Food Corporation (Vinafood 2) signed a memorandum of understanding (MoU) with the Philippines’ AgriNurture, Inc. (ANI) to export two million tonnes of rice to the Philippines annually from 2019.
Under the agreement that will run until 2020, Vinafood 2 will supply 500,000 tons of rice every quarter.
The Philippines has imported millions tonnes of rice every year, mainly from Indonesia, Malaysia and Vietnam.
Commercial banks have to adjust the limit of cash withdrawals in foreign currency abroad to the maximum equivalent of VND30 million (US$1,280) per day for international credit and debit cards from early this year to meet a central bank regulation.
According to Ms. Ta Thanh Binh, head of the Securities Market Development Department under the State Securities Commission, economic positive prospects this year will create great favorable conditions for Vietnam’s stock market.