Specifically, the decision passed the contents of the "Memorandum of Understanding on Rice Trade Cooperation between the Government of the Socialist Republic of Vietnam and the Government of the Republic of Singapore" (hereinafter referred to as the "Memorandum of Understanding").
The Prime Minister of the Vietnamese government authorized the Minister of Industry and Trade to represent the Vietnamese government and sign the "Memorandum of Understanding" with the competent representatives of the Republic of Singapore. The Ministry of Foreign Affairs handled the authorization procedures as required.
This decision takes effect from the date of signing (October 25, 2025).
The Vietnam Trade Office in Singapore believes that, given the stable size of the rice import market in Singapore, Vietnamese rice will still face fierce competition from similar products from India, Thailand, and Japan. The Singapore government proposed signing a bilateral rice trade agreement with Vietnam, which is expected to ensure that Singapore becomes a stable export market for Vietnamese rice in the coming period. (End)