The Connection Between Vietnamese and Brazilian Businesses Is Growing Increasingly Stronger

The potential for business cooperation between Vietnam and Brazil is expanding steadily in high-value sectors.

VCCI Chairman Pham Tan Cong and Mr. Jorge Vianna, Chairman of the Brazilian Agency for Investment and Trade Promotion (APEX).

On the sidelines of the Brazil - Vietnam Economic Forum, Mr. Pham Tan Cong, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), had a meeting with Mr. Jorge Vianna, Chairman of the Brazilian Trade and Investment Promotion Agency (APEX).

Both sides emphasized that the Vietnam–Brazil relationship has a long-standing history of cooperation in various fields, especially in investment, trade, and economic development. However, they noted that cooperation between the two countries’ businesses remains modest compared to its actual potential.

Mr. Vianna stated that Brazilian enterprises always consider Vietnam a promising economic partner within the ASEAN bloc. Chairman Jorge Vianna also expressed his strong desire to see more Vietnamese products available in the Brazilian market.

He hopes that bilateral trade turnover will not only reach the target of USD 15 billion by 2030 but even surpass it in the near future.

Welcoming the Chairman of APEX Brazil to Vietnam, VCCI Chairman Pham Tan Cong shared specific information on the market and investment cooperation potential in Vietnam. According to him, Vietnam is a safe destination for investment capital, with more than 200,000 enterprises ready to connect and collaborate. Notably, Vietnam’s Happiness Index in 2025 rose by 8 places, reaching 46th position.

VCCI Chairman Pham Tan Cong, along with leaders of the Ministry of Finance and Brazilian Ambassador to Vietnam, Marco Farani, witnessed the signing ceremony of a cooperation agreement between Vietnamese and Brazilian businesses

As such, Vietnam is not only an attractive destination for business and investment but also an ideal place to live for global enterprises, including those from Brazil.

With one of the highest GDP growth rates in the world—targeting 8% this year and aiming for over 10% by 2026—Vietnam is drawing the attention of numerous global corporations, particularly in high-tech, energy, agriculture, and supporting industries.

Strategically located as the gateway to ASEAN with a market of over 500 million people, Vietnam complements Brazil, which is regarded as the gateway to the Southern Common Market (MERCOSUR) in South America. The connection between these two strategic hubs has the potential to create promising new trade and investment corridors.

Chairman Pham Tan Cong emphasized that VCCI is ready to welcome delegations of Brazilian businesses to visit and work in Vietnam. He also pledged to work closely with APEX Brazil to support Vietnamese and Brazilian enterprises in enhancing comprehensive economic cooperation. VCCI aims to serve as a bridge helping businesses from both countries to invest and operate effectively, thereby contributing to the development of strong bilateral relations between Vietnam and Brazil. The shared goal is to reach a bilateral trade turnover of USD 10 billion by 2025 and USD 15 billion by 2030.

During the meeting, both sides agreed to move forward with signing a Memorandum of Understanding (MOU) and an action plan to promote economic relations between the two countries in key sectors such as cotton, leather and footwear, meat products, agricultural commodities, and energy. They also discussed the prospect of a bilateral Free Trade Agreement (FTA) between Vietnam and Brazil.

In 2024, bilateral trade reached a record high of USD 7.97 billion, up 12% compared to 2023. Of this, Vietnam exported USD 2.6 billion worth of goods (a 6.6% increase from 2023) and imported USD 5.37 billion (a 15% increase from 2023). Vietnam is currently Brazil’s largest trading partner in Southeast Asia, while Brazil is Vietnam’s largest trading partner in Latin America.