Vietnamese coffee export ranking is stabilized by external objective factors Future for Vietnamese coffee export ranking
Or the State Bank has reserved a credit package of VND 12,000 billion to support the 5 provinces of the Central Highlands to serve the coffee replanting program. Typically, the Ministry of Agriculture and Rural Development has approved the development plan of Vietnam’s coffee industry to 2020 with a vision to 2030. To promote coffee exports to this region, the Ministry of Industry and Trade recommends that businesses focus on cultivation and production development associated with a sustainable environment to attract consumers. The Ministry of Finance of Vietnam supports businesses and people to grow coffee tax-free and use land (reduced from 20% – 50%). Vietnamese government’s interest in improving Vietnamese coffee export ranking With the CPTPP trade agreements – the Comprehensive and Progressive Agreement for Trans-Pacific Partnership RCEP – Regional Comprehensive Economic Partnership Agreement) creates favorable conditions for Vietnam to export coffee, identify Vietnamese coffee brands and be competitive with coffee from other countries. In addition to developing the traditional coffee market, businesses can consider developing specialty coffee brands, in order to increase the export of coffee products. Under the EVFTA, 39 Vietnamese products have been recognized and protected by the EU for geographical indications, including Buon Ma Thuot coffee.
On August 1, 2020, the Free Trade Agreement between Vietnam and the European Union (EVFTA) took effect, in which non-taxable coffee products will help Vietnamese coffee have a competitive advantage compared to other countries in this region and this is an opportunity for Vietnamese businesses. Free Trade Agreement between Vietnam and the European Union (EVFTA)