THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Tough regulations on import of livestock feed
VGP – All organizations or individuals can only import types of livestock feed named in the list of imports permitted for circulation in Việt Nam. And they have to compensate breeders for damages due to low-quality goods.
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Domestic investors are encouraged to tap the potential domestic market of livestock feed – Illustration photo |
The regulations are stipulated in the Government’s newly-introduced Decree 8/2010/NĐ-CP on management over livestock feed. The document will take effect on March 25, 2010.
The Government requires all organizations and individuals operating in the area of livestock feed to have business licenses, facilities, and necessary technology that meet the current standards. In addition, livestock feed must be stored safely and distributed in the stores or shops which have accurate addresses.
As an agricultural country, Việt Nam has a quite large market of livestock feed. Each year, the country has to spend around US $1.5 billion on importing livestock feed. Thus, the husbandry sector may suffer price pressure and become dependent on price fluctuations in the international markets.
So far, there are 225 factories producing and processing livestock breed in Việt Nam. However, domestic enterprises hold only 30% of market share of livestock breed. Therefore, the Government encourages Vietnamese enterprises to exploit the potential domestic market.
By Kim Loan