The Philippines, one of the world's largest rice buyers and biggest importers of the Vietnamese grain, officially announced a reduction in rice import taxes from 35% to 15%, effective in early August this year and lasting until 2028.
Hanoi (VNA) - The Philippines, one of the world's largest rice buyers and biggest importers of the Vietnamese grain, officially announced a reduction in rice import taxes from 35% to 15%, effective in early August this year and lasting until 2028.
This can be seen as the latest action by the Philippine government to tackle inflation, especially increasing rice prices in the market so far this year.
In the first quarter of 2024, the Philippines’ economy was relatively stable, except for the price increase of some essential consumer goods, particularly rice, which saw an increase of about 24.4%. The rice prices account for approximately 9% of the Consumer Price Index (CPI) of the Southeast Asian country.
According to the Vietnam Trade Office in the Philippines, the country is Vietnam’s largest buyer to date, accounting for over 80% of the total rice imported into the Philippine market.
Vietnam exported 1.44 million tonnes of rice to the Philippines as of May 23, accounting for 72.9% of the total import of the grain of the country. The reduction of rice import tax by the Philippines is said to increase opportunities for Vietnamese rice in the market.
Latest data from the Departmಌent of Agriculture’s Bureau of Plant Industry,🍰 the Philippines' total rice imports rose by 20.3% to 1.97 million tonnes in the reviewed period. The country’s total rice imports are estimated to reach about 4 million tonnes in 2024./.
Philippine President Ferdinand Marcos Jr. has said various economic zones in the country are open to all foreign investors and hoped that foreign companies can seize the business and trade opportunities from these economic zones.
Philippine President Rodrigo Duterte has decided to reduce the tariffs on imported rice to ensure food security, and protect consumers in the world’s largest importer of the grain.
The Philippines is considering an emergency purchase of up to 250,000 tonnes of rice from Vietnam or Thailand to ensure enough rice for domestic consumption during months of bad harvest.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
