Heat the olive oil in a large pot over medium heat until shimmering.

Add diced onions and chopped green bell peppers; sauté for about 3-4 minutes until softened.

Stir in uncooked long-grain white rice and toast for approximately 2 minutes.

Pour in chicken broth (or vegetable broth), soy sauce, garlic powder, onion powder, paprika, salt, and black pepper. Stir and bring to a boil.

Reduce heat to low, cover, and let the rice simmer for 18-20 minutes.

Remove from heat and let it sit covered for an additional 5 minutes.

Fluff the rice with a fork and garnish with dried or fresh parsley before serving.