As part of his official visit to Brazil to attend the BRICS Summit and engage in bilateral activities, Prime Minister Pham Minh Chinh on July 7 (local time) held meetings with leaders of major Brazilian corporations and business associations in Rio de Janeiro, encouraging them to enhance cooperation and support negotiations for Free Trade Agreements (FTAs) between Vietnam and Brazil, as well as between Vietnam and the Southern Common Market (MERCOSUR). 

At the meetings, Prime Minister Chinh highlighted Vietnam’s favorable investment and business climate, its key development orientations, and the growing strategic partnership between Vietnam and Brazil, which was elevated in November 2024. He called on Brazilian businesses to translate the strong political and diplomatic foundation between the two nations into concrete economic cooperation, business linkages, and mutual prosperity.

Prime Minister Chinh emphasized the importance of Brazilian enterprises in accelerating the conclusion of the Vietnam-Brazil and Vietnam - MERCOSUR FTAs, as well as the bilateral Investment Promotion and Protection Agreement. He underscored that these agreements would pave the way for a more conducive environment for trade and investment between the two countries.

Enhancing fintech and smart card cooperation with Alterosa MK

During a meeting with Celso Nunes Cio, Creative Director of Alterosa MK—a joint venture between Brazil’s Alterosa Group and Vietnam’s MK Group—the Prime Minister praised the venture’s efforts in delivering fintech solutions and smart card technologies. He welcomed Alterosa MK’s ambition to expand operations and proposed that the company serve as a bridge to deepen bilateral cooperation in high-tech sectors.

PM Chinh encouraged the development of smart payment cards and fintech services for the Brazilian market, drawing inspiration from Vietnam’s multi-functional ID card system. He called on the joint venture to prioritize worker welfare and contribute to both countries' socio-economic development through responsible investment.

FIRJAN urged to deepen industrial and technological cooperation

The Prime Minister also held talks with Luiz Cesio Caetano, President of the Federation of Industries of the State of Rio de Janeiro (FIRJAN). Acknowledging FIRJAN's role in shaping industrial policy, fostering innovation, and supporting sustainable development, PM Chinh expressed appreciation for the organization’s role in facilitating the Vietnam-Brazil Business Forum in November 2024 and its efforts to link businesses from both sides.

With over 8,000 companies in its network, FIRJAN was urged to promote industrial and technological cooperation with Vietnam in areas such as manufacturing, clean energy, supporting industries, creative industries, logistics, technical training, and digital transformation. PM Chinh also proposed the establishment of a regular cooperation mechanism between FIRJAN and Vietnamese industry associations, industrial parks, and investment promotion agencies.

The Prime Minister affirmed that the Vietnamese government stands ready to support FIRJAN and enterprises from Rio de Janeiro in market access and project implementation in Vietnam, based on principles of mutual benefit, transparency, and sustainable development.

Vale expresses interest in expanding presence in Vietnam

Later the same day, PM Chinh met with Daniel Guardado, CEO of Vale, a Brazilian multinational operating in metals, mining, and logistics. The two sides discussed Vale’s ongoing partnership with Vietnam’s Hoa Phat Group, especially in iron ore exports, and the potential for expanding cooperation to other Vietnamese partners and the broader region.

The Prime Minister acknowledged the growing demand in Vietnam for strategic minerals—including iron and copper—for major infrastructure projects such as high-speed rail and urban metro systems, as well as for high-tech and renewable energy industries.

He invited Vale to consider joint ventures with Vietnamese enterprises in mining, metallurgy, and strategic material supply chains. PM Chinh also encouraged Vale to expand its footprint in Vietnam and contribute to the formation of Vietnamese multinational corporations in collaboration with local partners.

Throughout the meetings, Prime Minister Pham Minh Chinh reiterated Vietnam’s commitment to building a dynamic and open economy, supported by political stability, a young and abundant workforce, and competitive costs. As a member of multiple new-generation FTAs (CPTPP, EVFTA, RCEP), Vietnam offers access to vast markets and growing investment opportunities.

He called on Brazilian businesses to play a greater role in transforming the strong Vietnam-Brazil friendship into tangible economic results, reaffirming the shared vision of a comprehensive, strategic, and mutually beneficial partnership.

This engagement marked the final event in Prime Minister Chinh’s official visit to Brazil for the BRICS Summit and bilateral meetings. Later that evening, the Prime Minister, his spouse, and the Vietnamese delegation departed Rio de Janeiro, concluding the trip on a successful note.