Brazil is set to invest in beef processing plants in Vietnam, marking a strategic move to penetrate the ASEAN market, Brazilian President Luiz Inácio Lula da Silva said at the Vietnam-Brazil Economic Forum in Hanoi on Saturday during his state visit to Vietnam. 

The president’s visit, which took place from Thursday to Saturday, was made at the invitation of Vietnam's State President Luong Cuong.

The Brazilian government’s plan came after Vietnam's decision to open its doors to Brazilian beef. 

The Brazilian leader revealed that a Brazilian company intended to pour US$100 million into building a beef processing facility in Vietnam. 

This investment is part of a broader initiative to strengthen economic ties and open new avenues for bilateral cooperation.

At the forum, businesses from both countries were introduced to each other’s strengths, potential, and investment interests, while attendees also put forward numerous solutions for boosting cooperation in various sectors, including aviation, mechanical engineering, agriculture, and minerals.

Despite the geographical distance between Vietnam and Brazil, President Lula da Silva emphasized that the two nations share many common values. Both countries have rich, diverse cultures, with a particular passion for football. 

Moreover, Brazil and Vietnam are among the largest coffee producers and exporters in the world, making them significant players in the global coffee market.

He highlighted the need to increase bilateral trade, which, despite reaching nearly $8 billion last year, remains modest relative to the full potential of their strategic partnership. 

While Vietnam has allowed the import of Brazilian beef, Brazil is eager to serve as a gateway for Vietnamese products to the Southern Common Market, or MERCOSUR, a South American trade bloc.

The Brazilian leader called on the companies of the two nations to deepen cooperation in such fields as aerospace, biofuels, sports, and agriculture. 

He also proposed the creation of joint investment funds to foster scientific and technological development, as well as to provide a more conducive environment for business collaboration.

Addressing the forum, Prime Minister Pham Minh Chinh reaffirmed Vietnam's consistent support for a strong, independent Brazil with an increasingly important role in the region and on the global stage. 

Vietnam is committed to participating in Brazil's initiatives, especially those aimed at combating poverty and promoting global peace and stability.

The prime minister also suggested various avenues for partnership between Vietnamese and Brazilian businesses. 

He hinted at establishing a coffee trading exchange and boosting cooperation in mineral extraction.

PM Chinh appreciated Brazil's swift decision to invest in beef processing plants in Vietnam, demonstrating Brazil’s commitment to its promises and cooperation. 

He also referred to football as a shared passion between the two nations, noting the significant presence of Brazilian footballers in Vietnam, some of whom have become naturalized citizens and contributed to Vietnam’s victory in the 2024 ASEAN Championship.

PM Chinh underscored that bilateral cooperation knows no bounds and can extend across all fields.

He urged the Brazilian government to support the early launch of free trade agreement negotiations between Vietnam and MERCOSUR, along with the signing of key agreements on investment protection, labor, education, and visa exemptions to facilitate business and trade relations.

For Brazilian investors, the prime minister assured that Vietnam would provide a stable and secure environment for foreign investments, guaranteeing the protection of investors’ legitimate rights and interests, as well as political stability and security.

He also outlined the ‘three commitments’ between the government, businesses, and citizens, including mutual understanding, shared visions, and collaborative efforts for sustainable development.

Brazilian President visits Vietnam Military History Museum

Brazilian President Lula da Silva and Vietnamese Vice-President Vo Thi Anh Xuan visited the Vietnam Military History Museum in Hanoi on Saturday morning.

They were introduced to the heroic history of Vietnam’s struggle for independence and its national defense, including a segment of late President Ho Chi Minh's Declaration of Independence. 

During the visit, Vice-President Xuan also highlighted key national events, including the 80th anniversary of Vietnam’s founding.

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