Heat a large skillet over medium-high heat and add the lean ground beef. Cook for about 5–7 minutes, breaking it apart with a spatula until browned and cooked through.

Stir in the soy sauce and hoisin sauce, allowing it to simmer for an additional 2 minutes.

Incorporate the shredded carrots and chopped bell peppers into the skillet with the beef mixture. Cook for another 2 minutes.

In a shallow dish, warm some water until just hot but not boiling. Dip one rice paper wrapper into the water for about 15–20 seconds.

Place a few fresh basil leaves in the center of the softened rice paper, followed by a spoonful of the beef and vegetable mixture.

Fold the sides of the rice paper over the filling, then roll it tightly from the bottom up.

Continue with the remaining rice paper and filling, serve immediately with dipping sauces.