Rio de Janeiro, July 07, 2025 – The Europe Today: Prime Minister Phạm Minh Chính affirmed that the Vietnamese Government will create all favourable conditions for Brazilian investors to succeed and grow sustainably in Vietnam, during his remarks at the Vietnam–Brazil Business Forum held in Rio de Janeiro on Saturday. The forum was part of PM Chính’s official working visit to Brazil to attend the expanded BRICS Summit and engage in bilateral activities.
The high-level forum gathered over 80 business representatives and leaders from ministries and sectors of both countries, highlighting the deepening Việt Nam–Brazil Strategic Partnership. PM Chính noted that economic relations have become a key pillar of the bilateral relationship, with Brazil currently serving as Việt Nam’s largest trading partner in Latin America. In 2024, two-way trade reached nearly US$8 billion, with both countries aiming to boost it to $10 billion soon and $15 billion by 2030.
Việt Nam’s main exports to Brazil include phones and components, computers, machinery, and transport equipment, while imports largely consist of ores, cotton, soybeans, animal feed, corn, wood, and textile raw materials.
However, investment figures remain modest. Brazil currently has six investment projects in Việt Nam worth $3.83 million, and Việt Nam has one project in Brazil with a registered capital of $300,000. PM Chính stressed the need to expand this area, leveraging the two countries’ complementary strengths.
During the forum, business leaders from both sides presented their capacities, cooperation interests, and proposals for boosting trade and investment in priority sectors such as aviation, metallurgy, energy, telecommunications, food, agriculture, and technology.
PM Chính emphasized the fast-changing global context and the need for countries to promote solidarity, multilateralism, and free trade while avoiding the politicization of commerce and technology. He called for continued consolidation of the Việt Nam–Brazil partnership, which he said is now at its strongest level ever and should be deepened with a long-term vision for peace and development.
Sharing Việt Nam’s development vision toward 2030 and 2045, PM Chính stated that Việt Nam remains committed to safeguarding its independence and sovereignty while pursuing stability and economic growth. He noted that Việt Nam’s GDP growth in the first half of 2025 was the highest in nearly two decades, with macroeconomic stability and inflation under control.
PM Chính also highlighted domestic reforms, including major administrative restructuring and sectoral reforms in health, education, and culture, positioning Việt Nam for a new phase of development.
Following his successful talks with President Luiz Inácio Lula da Silva, PM Chính reiterated the Brazilian leader’s support for closer cooperation, especially in areas where one country’s strengths meet the other’s needs. He proposed three breakthrough areas for collaboration: agriculture; science, technology, and digital transformation; and mineral resource development.
On trade, PM Chính announced that Vietnam has exported its first batch of tra-basa and tilapia fish to Brazil, while Brazil has begun exporting beef to Vietnam. Both sides also committed to signing a long-term food security agreement, including increased Vietnamese rice exports to Brazil.
Significantly, the two countries — the world’s top coffee producers — agreed to advance cooperation in the coffee sector through a potential coffee alliance, a trading platform, shared branding, and a cultural initiative promoting coffee consumption.
The forum also opened a new direction for investment cooperation, focusing on on-site production and processing of agricultural products to serve both domestic and global markets. For instance, Vietnamese firms could cultivate and process rice in Brazil, while Brazilian companies could invest in livestock and meat processing in Vietnam.
The two nations also pledged to accelerate negotiations on a Free Trade Agreement (FTA) between Việt Nam and the Southern Common Market (MERCOSUR), as well as to advance legal frameworks on investment, labor cooperation, and visa facilitation. Plans to establish direct flights between the two countries were also discussed to enhance economic connectivity.
Concluding the forum, PM Chính called on businesses to transform the robust political-diplomatic ties into tangible economic results and partnerships, delivering measurable benefits to both countries.
Immediately following the forum, several cooperation documents were exchanged between Vietnamese and Brazilian enterprises in the presence of the Prime Minister. These included:
- An agreement on pangasius and tilapia export cooperation between Nam Viet Joint Stock Company (Việt Nam) and AV09 Commerce Import Company (Brazil).
- A $200 million agreement on quail farming between Trong Khoi Co. Ltd (Việt Nam) and Fujikura Quail Genetics Company (Brazil).
- A $3 million agreement on youth football training between Hồ Chí Minh City Football Club and Gremio Football Club.
These agreements underscore the growing momentum in Vietnam–Brazil economic relations and the shared commitment to fostering a sustainable and strategic partnership.
