The World Bank (WB) has committed loans and technical support, while the International Rice Research Institute (IRRI) and other organizations have pledged technical assistance.

According to Cao Thang Binh, a senior WB expert, Vietnam is one of the top three rice-exporting countries in the world, with one in every six rice eaters eating Vietnamese rice. The initiative marks the first large-scale, sustainable rice production project designed to reduce emissions for both Vietnam and the world. It is a pivotal moment for Vietnam to promote and rebrand its rice, demonstrate its responsibility in rice production, and enhance its global standing.

Binh estimated that investing approximately 1 billion USD in the project could yield about 4 billion USD in returns. Additionally, reducing production costs and fertiliser use by approximately 30% represents a significant benefit to the country. The project also supports Vietnam’s commitment to achieve net-zero emissions by 2050.