Brazilians can rest assured to come to Vietnam to invest and do business.

At the Dialogue with Brazilian businesses, Prime Minister Pham Minh Chinh hoped that both sides would strive to bring two-way trade turnover to 10 billion USD by 2025, and 15-20 billion USD by 2030 in a more balanced direction.

Prime Minister Pham Minh Chinh chaired a discussion with Brazilian businesses.

On the morning of September 24 (local time), in Sao Paulo, Prime Minister Pham Minh Chinh chaired a discussion with Brazilian businesses.

Speaking at the opening ceremony of the Dialogue, Prime Minister Pham Minh Chinh emphasized that the two countries have a good traditional relationship, but due to the geographical distance, the two countries have not yet fully exploited their potential. In the coming time, the two sides will have better solutions to overcome this problem when the space for economic and trade development is currently very large. Brazil currently has 8 million square kilometers and a market of 214 million people, so the two countries can complement and support each other, without any conflict points, based on the foundation of good political relations.

Prime Minister Pham Minh Chinh speaks at the seminar.

“Vietnam has always known that Brazil is the land of football, of the King of Football Pele, rich in humanity, openness, a unique Latin American culture, a strong country in South America, in the G20 group of countries,” said the Prime Minister. The two countries have similarities, the Vietnamese people love peace, cherish friendship, and do business ethically.

According to the head of the Government, the relationship between the two countries is developing well, but economic, trade and investment relations are not yet commensurate. The trade turnover has only reached 7 billion USD, although it is the largest among South American countries, it is not commensurate with the potential, because the Brazilian market still has a lot of room that the two sides have not fully exploited.

“We need to solve the problem of geographical distance limitation, when currently, aviation and maritime are developed, Vietnam has many international transit ports, which can overcome this problem. We need to find products that can complement each other, such as importing cotton, soybeans, corn from Brazil and exporting leather, footwear, textiles, agricultural products, and electronics,” said the Prime Minister.

Sharing about the socio-economic situation in Vietnam, the Prime Minister stated that Vietnam is building a socialist democracy, a socialist rule-of-law state by the people, of the people and for the people; and a socialist-oriented market economy.

Throughout these three pillars, Vietnam takes people as the center, subject, driving force, and goal for development; does not sacrifice progress and social justice to pursue mere economic growth; builds a foreign policy of independence, self-reliance, diversification, and multilateralization in international relations; is a responsible, proactive, and active member of the international community; builds an independent, self-reliant economy, actively integrates into the international community in a practical and effective manner; and builds a "4 no's" national defense.

The Prime Minister stated: "Brazilians can rest assured when coming to Vietnam to invest and do business. Vietnam complies with its international commitments, the problem is that the two countries find a way to come together. Maybe we still lack information, are concerned about geographical distance, and do not fully understand each other's markets, so we need to strengthen business connections." The Prime Minister hopes that Brazilian businesses will spread this spirit, because the two countries have a good political relationship.

Prime Minister Pham Minh Chinh suggested that businesses from both sides actively participate and concretize cooperation mechanisms into specific programs and projects.

Minister of Industry and Trade Nguyen Hong Dien emphasized that Brazilian businesses entering Vietnam's market of 100 million people means accessing the large ASEAN market of 600 million people. At the same time, he expressed hope that the two sides will conclude negotiations on the Vietnam-MERCOSUR Free Trade Agreement.

According to Minister Nguyen Hong Dien, Vietnam is currently attracting strong foreign investment. Recently, Vietnam and the United States upgraded their relationship to a comprehensive strategic partnership, creating conditions for a wave of investment shifts. From there, Vietnam hopes that the business communities of the two countries will connect more strongly.

Brazilian Ambassador to Vietnam Phan Thi Kim Hoa highly appreciated Vietnam's current development, and pointed out that the two countries have many similarities and great potential for economic and trade cooperation. Representatives of Brazilian businesses also highly appreciated the potential of the Vietnamese market, wishing to invest and do business in Vietnam.

Concluding the discussion, Prime Minister Pham Minh Chinh said that Vietnam is currently focusing on three strategic breakthroughs: perfecting the market economy institution, oriented towards socialism; administrative reform, training high-quality human resources, meeting labor needs in the new period; developing infrastructure, especially transport and telecommunications infrastructure, to help businesses reduce input costs and increase competitiveness. The Prime Minister hopes that Brazilian businesses will give Vietnam feedback in this process.

Affirming his full support for Brazil opening a Chamber of Commerce and Industry office in Vietnam, the Prime Minister suggested that businesses of the two countries further promote science and technology transfer; strengthen connections to understand each other, share and cooperate, and develop together.

Along with that, with a rich cultural identity and developed high-performance sports, Vietnam - Brazil continue to promote cooperation in the fields of culture, tourism and sports.

The Prime Minister hopes that more Brazilian businesses will come to Vietnam to invest, produce and do business in the spirit of win-win, "harmonious benefits, and shared risks".

Appreciating the goodwill of Brazilian businesses to cooperate, the Prime Minister said that Vietnam is actively negotiating with Brazil free trade agreements, investment protection, double taxation avoidance... to create conditions for businesses to cooperate and develop.

The Prime Minister suggested that businesses of the two countries actively participate and concretize cooperation mechanisms into specific programs and projects, striving to bring two-way trade turnover to 10 billion USD by 2025, and 15-20 billion USD by 2030 in a more balanced direction.

Source: https://baoquocte.vn/thu-tuong-cac-ban-brazil-hay-yen-tam-den-viet-nam-dau-tu-kinh-doanh-243502.html