Hoang said the drafted decree will fix prices for rice bought from farmers, and prevent business activities that violate the current regulations and cause losses to enterprises and farmers.
The minister added that his ministry is working with the Ministry of Finance to map out support policies to stabilise rice prices.
Sharing views on this issue, Minister of Finance Vu Van Ninh told deputies that concerned ministries and agencies will discuss with the country’s major food corporations the establishment of a fund to ensure the purchase of paddy from farmers at the floor price.
The Ministry of Industry and Trade forecast that Vietnam is likely to export 6-6.2 million tonnes of rice this year, a year-on-year increase of 30 percent.
While answering the legislative deputies’ questions about recent fluctuations in petroleum prices, the two ministers said Decree 84 will replace Decree 55 as from December, permitting businesses of all economic sectors, excluding foreign direct investment enterprises, to trade in petroleum products and set prices within a certain range.
Regarding bauxite projects in the Central Highlands, Minister Hoang said the Tan Rai project in Lam Dong province is being carried out on schedule, and causing no negative impact on social security and order. The project is expected to operate in late 2010.
For the Nhan Co project in Dak Nong province, the minister emphasised the need to make further assessments of its economic efficiency before deploying it, especially in terms of its impact on the environment.
During the session, Hoang also cleared up a number of issues related to the development of the domestic market, the fight against smuggled and poor-quality products, food hygiene and the planning of hydroelectric power projects.