Prime Minister Pham Minh Chinh called on Brazilian firms to promote investment in Vietnam during his receptions for leaders of four Brazilian corporations in Rio de Janeiro on Sunday (local time) as part of his trip to Brazil.

The Vietnamese government leader, his spouse, and a high-ranking delegation arrived in Rio de Janeiro on Saturday afternoon (local time), commencing a three-day visit to attend the G20 Summit and bilateral activities.

At these receptions, he underlined that the Vietnamese government will continue improving the business and investment climate, and simplify administrative procedures to attract foreign investors.

Vietnam is committed to creating favorable conditions for Brazilian companies to do business effectively and sustainably in the country, with a suitable visa policy.

At a meeting with José Serrador, global vice-president of Brazilian multinational aerospace corporation Embraer, PM Chinh said that Vietnam is studying new development spaces, including maritime space, underground space, and aerospace.

Vietnam has several advantages for developing the aviation industry such as a favorable geographical location. For example, 60 percent of the world’s GDP is within a five-hour flight radius from Vietnam.

The premier affirmed that Vietnam aims to become an air transit hub and expects to expand cooperation with aviation partners, including Embraer.

The prime minister suggested Embraer work with Vietnamese partners, including Vietnam Airlines, Vietjet, and Bamboo to boost its cooperation and investment.

He also urged the Brazilian aerospace corporation to assist Vietnam in establishing pilot and staff training centers, maintenance hubs, and transferring technology to strengthen their partnership in defense trade and rescue operations.

Meeting with the Vietnamese prime minister, Marcio Rodrigues, CEO of JBS, the world’s largest meat producer, said that JBS has been cooperating with several Vietnamese partners.

JBS aims to make Vietnam its strategic hub in the Asian market.

PM Chinh encouraged the company's leader to visit Vietnam to explore cooperative opportunities and integrate more deeply into the market.

He suggested expanding supply chains to bring Vietnamese agricultural products to Brazil and the global market, and investing in factories in Vietnam to boost feather and meat production and export.

Meanwhile, Roger Zen, chairman and CEO of Oceanside One Trading, briefed the Vietnamese leader on the firm’s operations and opportunities to expand business and investment collaboration with Vietnam.

Specifically, the company has signed an agreement worth US$120 million with a subsidiary of the Vietnam National Chemical Group (Vinachem) to export automotive tire products to the Brazilian market.

The firm's future goals include an increase in its exports to the U.S. and Brazilian markets from $70 million to $150 million annually.

Zen noted that Oceanside One Trading wishes to buy more goods from Vietnam and ramp up exports to the country in the coming months.

The prime minister welcomed Oceanside One Trading’s ideas and plans for cooperation, urging the firm to expand the reach of Vietnamese commodities to global consumers.

He called on JBS and Oceanside One Trading to approve of negotiations for new-generation free trade pacts between Vietnam and the Southern Common Market (MERCOSUR), as well as Brazil, and to advocate investment protection agreements.

During a meeting with Celso Nunes, innovation director at Alterosa, a smart card solutions provider, PM Chinh urged the company to expand its collaboration in Vietnam.

He suggested that both sides work to advance digital security authentication solutions and smart card technology to support the development of digital infrastructure and drive progress in the digital economy, society, government, and citizenship.

Nunes expressed Alterosa’s commitment to strengthening its partnership with Vietnam in smart card solutions and praised the country’s significant potential for business and investment opportunities.

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