HCMC – Vietnam is focusing on attracting investments in high-tech sectors such as semiconductor manufacturing, hydrogen energy, green economy, and renewable energy, Prime Minister Pham Minh Chinh said.
The Vietnamese leader highlighted Vietnam’s investment priorities at the Vietnam-Brazil Business Forum on November 17 (local time) as part of the G20 Summit in Brazil.
A representative from the Brazil Chamber of Commerce and Industry noted the substantial potential for cooperation between Brazil and Vietnam in high-tech industries, agriculture, energy security, renewable energy, and climate change mitigation.
Brazil is hopeful that the proposed Mercosur-Vietnam Free Trade Agreement will soon be finalized, granting Brazilian businesses easier access to ASEAN markets through Vietnam.
Addressing the forum, PM Chinh stressed that the Vietnam-Brazil relationship is developing strongly, underpinned by strong political trust, reported the Vietnamplus news site.
He expressed optimism about achieving a two-way trade target of US$10 billion by 2025. PM Chinh urged Vietnamese and Brazilian enterprises to strengthen mutual investment, collaborate on agriculture and food security, and explore new areas of cooperation, including aerospace, maritime development, and underground infrastructure.
Vietnam is prioritizing investments in projects with high added value, strong spillover effects, and connections with domestic businesses.
Key focus areas include science and technology, innovation, research and development, green economy, digital economy, circular economy, semiconductor manufacturing, hydrogen energy, renewable energy, and green finance.
As of October 2024, Brazil had seven investment projects in Vietnam, totaling US$3.85 million in registered capital, mainly in manufacturing, wholesale and retail, and scientific and technological fields.
