2024.06.25

Faeger and NAEC, Vietnam's state-owned agricultural agency, sign MOU for implementation of rice paddy project in 1 million hectares across Vietnam.

In June 2024, FAEGER Corporation (headquartered in Minato-ku, Tokyo; Takahiro Ishizaki, President; hereinafter "FAEGER") signed a Memorandum of Understanding (hereinafter "MOU") with NAEC (National Agricultural Extension Center; Vietnamese: Trung tâm Khuyến nông Quốc gia), the largest state-run agricultural organization in Vietnam. (NAEC), the largest national agricultural organization in Vietnam, and agreed to promote decarbonized agriculture in Vietnam through the creation of carbon credits from agriculture. In order to promote decarbonization of the agricultural sector in Vietnam, MHI and NAEC will work together to support the efforts of rice farmers across Vietnam, which will cover 1 million hectares by 2035, to achieve carbon neutrality in the entire Asian region.

・Background of the MOU

We are the first startup in Japan to create carbon credits from agriculture. In Japan, we are working with farmers to support their efforts to decarbonize agriculture by extending the drying-out of rice paddies and applying biochar, and to generate revenue through credit generation. In Southeast Asia, NAEC is working to decarbonize rice cultivation through the introduction of AWD technology*² and credit generation through JCM*³, mainly in Vietnam and the Philippines, and this MOU with NAEC will accelerate its efforts to decarbonize agriculture throughout Vietnam.

NAEC is the largest state-owned agricultural organization in Vietnam with 30,000 employees and 200,000 agricultural technical support staff. NAEC will provide support for the creation of high-quality credits through technical guidance to farmers and monitoring in each region.

In June, MOU was also signed with INNO-AGRI, a company newly established by Thanh Phat, with the aim of operating business in the agricultural field, which was concluded in January 2024, thereby strengthening the project implementation system in Vietnam. MHI and Thanh Phat have completed joint demonstration experiments up to harvesting in Long An and Nghe An provinces, and based on the data obtained from the experiments, will proceed with efforts toward the implementation of high-quality decarbonized agriculture.

※2 AWD technology (Alternate wetting and drying), also known as interrupted irrigation technology, is one of the rice cultivation technologies that reduce greenhouse gas (GHG) emissions.

※3 JCM (Joint Crediting Mechanism) is a mechanism to contribute to the reduction of GHG emissions among partner countries through the dissemination and implementation of excellent decarbonization technologies to developing countries.

・Local Press Coverage in Vietnam
Our efforts with NAEC were introduced by a local news organization.
https://youtu.be/wzJrkpbeUg8?si=dzBIs4Mmq2P65571

・About NAEC
NAEC (National Agricultural Extension Center; Vietnamese: Trung tâm Khuyến nông Quốc gia) is an agency of the Ministry of Agriculture and Rural Development(MARD), and contributes significantly to the international integration of the agricultural and rural development sectors through technical guidance to farmers and various international cooperation activities.
Please see the original release below.
https://khuyennongvn.gov.vn/hop-tac-quoc-te-hop-tac-cong-tu/ky-ket-bien-ban-ghi-nho-gop-phan-giam-phat-thai-khi-nha-kinh-trong- linh-vuc-nong-nghiep-25669.html

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