Prime Minister Pham Minh Chinh meets a representative of Vale, a multinational group specialising in metals, mining, and logistics, in Brazil's Rio de Janeiro city on July 7 (local time). (Photo: Nguyen Hong)

At these meetings, the Prime Minister highlighted Vietnam’s current landscape, key development priorities, and its favourable investment and business environment. He also underscored the strong friendship between Vietnam and Brazil, particularly following the upgrade of bilateral ties to a Strategic Partnership in November 2024.

The leader called on the businesses to help translate the strong political and diplomatic foundation between the two countries into concrete economic actions.

He noted joint efforts to push ahead with negotiations toward a free trade agreement between Vietnam and the Southern Common Market (Mercosur), as well as a bilateral investment promotion and protection agreement with Brazil. Chinh urged Brazilian corporations and business associations and federations to support the early conclusion of these deals to facilitate business cooperation.

At a meeting with executives of Vale, a multinational group specialising in metals, mining, and logistics, Chinh emphasised that Vietnam is entering a new phase of development, with numerous major projects underway, particularly in high-speed and urban railway infrastructure, driving strong demand for iron ore.

He added that the country has growing needs for other minerals such as copper to support its development trajectory in the coming years.

In addition to supplying ore, the Prime Minister suggested Vale consider partnering with Vietnamese groups in mining, metallurgy, and the development of strategic material supply chains for the renewable energy and high-tech manufacturing industries.

He encouraged the company to support Vietnamese firms in building multinational corporations and to expand its footprint in Vietnam across high-potential sectors.

Lauding Vietnam’s economic progress, Daniel Guardado, Business Development General Manager at Vale, said the Brazilian company has been working effectively with Vietnam’s Hoa Phat Group in iron ore exports.

He expressed interest in expanding business ties with more Vietnamese partners to contribute to the growth of both economies, while also using Vietnam as a gateway to broaden cooperation across the region.

On this occasion, Prime Minister Chinh had a meeting with representatives of Alterosa MK, a joint venture between Brazil’s Alterosa Group and Vietnam’s MK Group, providing payment solutions, smart cards, and fintech services.

Prime Minister Chinh had a meeting with representatives of Alterosa MK, a joint venture between Brazil’s Alterosa Group and Vietnam’s MK Group. (Photo: Nguyen Hong)

Prime Minister Chinh stated that within the framework of the Vietnam–Brazil Strategic Partnership, science-technology cooperation and innovation have been identified as a core pillar.

He urged MK and Alterosa to continue prioritising workers’ welfare and to play a more active role in community development as well as socio-economic progress of both countries.

Introducing Vietnam’s multi-functional national ID card - integrated with various features, tools, and data – the Prime Minister expressed hope that the groups would develop smart cards, payment solutions, and fintech services for the Brazilian market.

With its extensive partner network, Alterosa MK would serve as a bridge for deeper Vietnam–Brazil collaboration in high-tech, meeting the growing demand for development cooperation in the new era, he suggested.

Meeting with the Industry Federation of the State of Rio de Janeiro (Firjan)’s President Luiz Césio Caetano, Prime Minister Chinh lauded the federation’s role in encouraging the Brazilian business community, especially from Rio de Janeiro state, to explore investment opportunities and expand cooperation with Vietnam.

Prime Minister Pham Minh Chinh has a meeting with the Industry Federation of the State of Rio de Janeiro (Firjan)’s President Luiz Césio Caetano. (Photo: Nguyen Hong)

The leader noted that, thanks to Firjan’s current activities, several Brazilian companies are now carrying out procedures to invest hundreds of millions of US dollars in Vietnam.

Prime Minister Chinh expressed hope that the federation would continue to serve as a key connector, encouraging Brazilian industrial and technology firms to invest in sectors where Vietnam has strong demand, such as manufacturing and processing, clean energy, supporting industries, creative industries, logistics, technical training, and digital transformation.

He called on Firjan to support Vietnamese enterprises in investing, producing, and doing business in Rio in particular, and Brazil more broadly.

The Prime Minister suggested the federation establish a regular cooperation mechanism with Vietnamese industry associations, industrial parks, and investment promotion agencies.

Vietnamese Government stands ready to support the federation and the business community of Rio de Janeiro in accessing the Vietnamese market and implementing joint projects, in the spirit of mutual benefit, transparency, and sustainable development, he pledged.

The Firjan President said with a network of around 8,000 enterprises, the federation aims to serve as a bridge linking Vietnamese and Brazilian firms, fostering investment and trade cooperation, and contributing to stronger economic ties between the two countries.

Later the same day, Prme Minister Chinh, his spouse, and the Vietnamese delegation departed Rio de Janeiro for Vietnam, successfully concluding the trip.