Brazilian businesses encouraged to land investment in Vietnam
VOV.VN - Brazilian businesses can invest in Vietnam’s manufacturing facilities to make it easier for them to penetrate its market and other ASEAN member states, said Deputy Prime Minister Vuong Dinh Hue at a meeting with influential Brazilian business leaders during his visit to the Latin American country over July 2-3.
 |
| Deputy Prime Minister Vuong Dinh Hue speaks at a Vietnam-Brazil Trade and Investment Forum. (Photo: VGP) |
He informed the hosts about important agreements reached during his visit, with a focus on the political determinations of leaders to step up bilateral ties, Brazil’s positive response to recognising Vietnam’s market economy status in 2018 and the building of a legal framework, which lays the foundations to facilitate trade exchange.
The two economies greatly supplement each other, however, trade exchange and investment are still below their full potential, he said while encouraging enterprises to utilize the favourable conditions offered by both governments to fully realise businesses opportunities.
The Brazilian side appreciated the outcomes of the Deputy PM’s visit to their country and showed their keen interest in Vietnam’s market with a desire to seek cooperation opportunities such as importing new seafood products like shrimp and tuna, exporting soybeans and beef, and partnering with importers of sub-150-seat aeroplanes.
Brazilian businesses affirmed their willingness to share experience in ethanol fuel production and distribution, to collaborate in export or production of some defence products and to consider expanding cooperation in new fields such as hi-tech industries, finance and banking, education and pharmaceuticals.
Deputy PM Hue praised Brazilian businesses’ considerations and directed relevant Vietnamese ministries and sectors to help them connect with domestic partners in order to take advantage of these cooperation opportunities.
Brazilian businesses can engage in the process of restructuring Vietnamese state-owned enterprises (SoEs), and invest in manufacturing facilities to access its market and other ASEAN countries or export products to their markets. In return, the Vietnamese Government will also encourage its businesses to seek their Brazilian production and investment partners to penetrate their vast market and the South American trade bloc (MERCOSUR), he said.
On the occasion, the Deputy PM welcomed Brazilian association and business representatives for dispatching their delegations to Vietnam in order to research on the Vietnamese market and attend the World Economic Forum on ASEAN (WEF ASEAN), set to take place in Hanoi in September.
