Rice exporters will have their licenses canceled if they fail to ship for a long time.
Out of 205 businesses with export licenses, 39 have not exported the grain since December 2019.
The Ministry of Industry and Trade said: “Many traders have no rice market or capacity to export. This along with the impact of the Covid-19 pandemic means they have not been able to export rice for nearly two years.”
Under further changes to a decree, the ministry wants local authorities which issue rice export licenses to strengthen inspection of business conditions.
Vietnam exported 5.7 million tons of rice worth $3 billion in the first 11 months of this year, year-on-year increases of 0.8 percent and 7.3 percent.
The country is unlikely to achieve the export target of 6.5 million tons this year, the Vietnam Food Association said, predicting that even next year exports would only be around 6.3 million tons.