Vietnam Offers Bright Future for Brazilian Investment

Chairman of the Brazilian Animal Feed Manufacturers Association (ABRA) Décio Coutinho stated that Vietnam has numerous benefits in attracting Brazilian enterprises and investors at the Brazil-Vietnam Business Conference, held on March 21 in Hanoi. The conference was co-organized by the Brazilian Embassy in Vietnam, the Brazilian Trade and Investment Promotion Agency (APEX), and the Vietnamese Ministry of Agriculture and Rural Development.

Chairman of the Brazilian Animal Feed Manufacturers Association (ABRA) Décio Coutinho (Photo: Mai Anh)

Décio Coutinho highlighted that since Vietnam and Brazil established the Comprehensive Partnership framework, economic and trade relations between the two countries have significantly improved. Currently, Vietnam is Brazil's largest trading partner in Southeast Asia and the second-largest purchaser of Brazilian products. Brazil is also Vietnam's largest trading partner in Latin America.

With the advantages of political stability, rich and high-quality human resources, transportation infrastructure, rapidly improving digital transformation, and open policies, the Vietnamese market is becoming more attractive to international investors, including Brazil.

“As Vietnam is a welcoming country, cooperating with Vietnamese enterprises is frequently quite smooth. Whenever we experience issues in the trade process, we always get assistance from the Vietnam Confederation of Commerce and Industry (VCCI), the Brazilian Embassy in Vietnam, and other organizations to rapidly address the problem,” stated Décio Coutinho.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, organizing this business conference is part of a series of activities celebrating the 35th anniversary of the establishment of Vietnam-Brazil diplomatic relations from 1989 to 2024.

Vietnam's agriculture industry is increasingly moving from a production mindset to an economic one, creating numerous prospects for international cooperation between Vietnamese and Brazilian companies. The Vietnamese Ministry of Agriculture and Rural Development would constantly accompany and serve as a bridge for the two nations' enterprises to cooperate and grow together.

Brazilian Ambassador to Vietnam Marco Farani (right) discusses with delegates at the conference. (Photo: Mai Anh)

According to Brazilian Ambassador to Vietnam Marco Farani, during Prime Minister Pham Minh Chinh's September 2023 visit to Brazil, the two countries planned to increase bilateral trade turnover from US $7 billion to US $10 billion by 2025. More projects that improve economic, trade, and investment cooperation will be implemented in the future as a result of the desire of enterprises in both countries, the support of the two governments, and the strong vitality of the two economies. Brazilian wine, corn, and cotton enterprises are planning to arrive in Vietnam from April to May 2024 to explore the Vietnamese market. A large Brazilian aircraft manufacturing business will also be present at the Vietnam International Defense Exhibition 2024.

Ambassador Marco Farani believes that as cooperation between the two countries grows, Vietnam will become the entry point for Brazil into the ASEAN market, while Brazil will serve as the gateway for Vietnam into the Mercosur market.

Representatives of Brazilian businesses participate in the conference. (Photo: Mai Anh)

Representatives from nearly 150 businesses from both countries, representing a wide range of industries such as aircraft, construction, medical equipment, footwear, and agricultural products attended the conference to introduce, exchange, and understand the market, as well as seek opportunities for cooperation and investment.

Vo Tran Ngoc, Sales Director of the Co.op Mart retail system, expressed his appreciation for the Brazilian market, which includes agricultural products such as beef, chicken, cattle, and poultry.

"Through this conference, we discovered a lot of potential companies from Brazil. In the upcoming time, we would contact these companies for cooperation directly, discover suitable products at affordable costs, and ensure quality, safety, and food hygiene for business in the Co.op Mart system," said Vo Tran Ngoc.

Science, Technology & Innovation - Pillars of Vietnam-Brazil Relations With 100 million inhabitants and robust economic growth, Vietnam has objectives and challenges similar to those of Brazil.

Promote People-to-people Exchanges and Diverse Cooperation between Vietnam, Brazil Friendship Associations This is the main topic agreed upon at the meeting between Nguyen Nang Khieu, Deputy Head of the Americas Department (Viet Nam Union of Friendship ...

Embassy Hosts Rich, Diverse Events to Strengthen Vietnam-Brazil Relations The Vietnamese Embassy in Brasilia holds a series of activities commemorating the 35th anniversary of establishing diplomatic relations and 17th anniversary of the bilateral comprehensive ...