Vinachem continues to promote cooperation with partners and customers in Brazil in the strategy of developing green chemical industrial products, digital transformation and innovation in the chemical industry.
Vietnam Chemical Group (Vinachem) signed a cooperation agreement with OCEANSIDE ONE TRADING LLC - Photo: Vinachem
Deputy General Director in charge of the Vietnam Chemical Group (Vinachem) Nguyen Huu Tu affirmed this when speaking at the Vietnam - Brazil business forum on the afternoon of November 17 (local time) about promoting cooperation in the chemical sector.
The forum, attended by Prime Minister Pham Minh Chinh, took place within the framework of the Prime Minister's program to attend the G20 Summit and bilateral activities in Brazil.
Lots of room for cooperation
According to Mr. Tu, Brazil is a market with great opportunities and potential for economic and trade cooperation. Especially during the official visit of Prime Minister Pham Minh Chinh to Brazil in September last year, the two countries set a target of striving to increase bilateral trade turnover to 10 billion USD by 2025 and 15 billion USD by 2030.
Deputy General Director in charge of Vietnam Chemical Group (Vinachem) Nguyen Huu Tu spoke at the forum - Photo: Vinachem
As a key enterprise in the chemical industry of Vietnam, Mr. Tu affirmed that Vinachem has actively coordinated with partners in Brazil to contribute to the early realization of the above goal and strengthen the cooperative relationship between the two countries.
In 2024, the group's estimated trade turnover in the Brazilian market is expected to reach over 90 million USD, nearly double that of 2021 and is forecast to continue to grow in the coming years.
In particular, the group's tire and tube products under the brands of Danang Rubber and Southern Rubber have gained increasing trust from Brazilian consumers.
In addition, through a solid, trustworthy relationship with Brazilian businesses, the group has received support to expand its market to countries in the South American common market.
Mr. Tu expressed that bilateral activities such as the Prime Minister spending time receiving Oceanside One Trading LLC, an important partner of Vinachem in Brazil, show the Prime Minister's special interest in business cooperation between the two countries, including in the chemical sector.
These cooperations are very potential, because Vinachem is a state-owned corporation with the annual supply capacity of over 10 million tons of fertilizer, over 7 million tires, over 1 million tons of chemicals and detergents. The corporation is also the largest domestic battery and accumulator manufacturer, with continuously growing revenue currently reaching about 2.5 billion USD, and the corporation's products are present in over 70 countries and territories around the world.
Meanwhile, Brazil is an agricultural powerhouse with a huge demand for fertilizer imports and an ever-expanding consumer goods market. Therefore, the group is working with its partners to have a ship carrying tons of high-quality fertilizers and the first batches of detergents under the Vinachem brand to Brazil in 2024.
Promote green chemical industry products
Based on the potential, Mr. Tu affirmed that Vinachem will continue to promote cooperation with partners and customers in Brazil in the strategy of developing green chemical industrial products, digital transformation and innovation in the chemical industry.
Businesses attending the Vietnam - Brazil Business Forum - Photo: VGP
"Vinachem plans to invest in expanding production in a number of areas such as basic chemicals, tires, electrochemistry, etc. With the spirit of "harmonious benefits, shared risks", the group hopes for the attention, understanding, and cooperation of Brazilian partners to form joint ventures, partnerships, develop new products, and expand the market" - Mr. Tu affirmed.
Vinachem leaders especially emphasized promoting the field of new product development. Including research and development of high-tech phosphoric acid products; standard yellow phosphorus to participate in the semiconductor industry value chain according to the Government's Strategy.
At the same time, Vinachem also wishes to supply technical rubber products for Embraer's modern aircraft products. At the same time, the group will import some products from Brazil such as ores, agricultural products... as production inputs to contribute to the effort to increase two-way trade turnover to 500 million USD by 2030.
"We are committed to using all our capacity to coordinate with our partners and customers in Brazil to continue to strengthen and expand effective and practical cooperation in the coming time.
The Group hopes that the Governments of the two countries will continue to pay attention, open the market, and create favorable conditions for businesses to cooperate in business. In particular, the Brazilian Government will pay attention and create favorable conditions to support tax rates for Vietnamese rubber tire, fertilizer, and chemical products," Mr. Tu expressed.
Source: https://tuoitre.vn/vinachem-dua-phan-bon-sam-lop-hoa-chat-tien-vao-thi-truong-brazil-20241118075453965.htm
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