Singapore and Viet Nam sign an MOU to develop a sustainable rice trade, creating the ASEAN Rice Hub and linking it to Singapore's carbon market, CIX.
On October 30, 2025, Singapore and Viet Nam signed a Memorandum of Cooperation (MOC) to create a sustainable rice trade partnership, marking a key development for both countries in the global food supply chain. The collaboration, part of the Viet Nam-Singapore Comprehensive Strategic Partnership (CSP) signed in August 2023, aims to promote the trade of low-carbon rice and enhance food security.
Assoc Prof Dr Aat Pisanwanich, an expert in international and ASEAN economics, explained that this MOU is the first of its kind between Singapore and a trading partner but is not Viet Nam’s first rice-related agreement. Viet Nam has also signed similar agreements with the Philippines, Indonesia, and Malaysia, although these did not focus on sustainable rice practices like Singapore’s.
The MOU outlines four main objectives:
1. Enhancing food security: Singapore, which imports nearly 100% of its rice, will benefit from a more diversified supply chain, reducing reliance on a single source.
2. Promoting sustainable rice trade: Both nations will work together to reduce carbon emissions in rice production, develop green supply chains, and use digital technology such as blockchain for traceability.
3. Expanding Viet Nam’s premium rice market: With Singapore’s global retail and logistics network, including companies like Olam and Wilmar, the partnership will help Viet Nam expand its high-quality rice exports to regions such as the Middle East and Europe.
4. Supporting the ASEAN Rice Hub: Singapore aims to establish itself as the ASEAN Rice Hub and connect with Climate Impact X (CIX), a carbon trading platform launched in 2021. CIX currently facilitates carbon credit trading for forest restoration projects in Indonesia and Africa.
In 2024, Singapore imported 424,329 tonnes of rice, valued at US$321.9 million, with India being the top supplier, followed by Viet Nam and Thailand.
During the first seven months of 2025, Thailand exported 70,220 tonnes of rice to Singapore, worth 2.18 billion baht. This was an increase from 9,586 tonnes in the same period last year. Singapore ranked 17th in Thailand’s rice export markets during this period.
Aat concluded that the MOU will benefit both Singapore and Viet Nam.
“The agreement ensures that Singapore will have a stable rice supply year-round and strengthens its position as a hub for high-quality rice and carbon credit trading, while Viet Nam will benefit from expanded rice exports and Singapore’s marketing expertise. We expect to see the development of a ‘low-carbon rice’ brand, combining Singapore’s strength in marketing with Viet Nam’s expertise in production.”
Source: Nation Thailand
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
