(MPI) - Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc hosted a reception in Hanoi on February 14 for Renato Costa, CEO of Brazil’s JBS - one of the world’s largest food processing companies, and Brazilian Ambassador to Vietnam Marco Farani.

At the reception. Photo: MPI

Deputy Minister Ngoc highly appreciated JBS for their active actions to explore opportunities in Vietnam and expand investment cooperation. She noted that this is the best time since Vietnam is among among the top 15 developing countries in terms of foreign direct investment (FDI) attraction globally, signed and implemented 17 Free Trade Agreements (FTAs) as well as current is a potential market and gateway to the ASEAN region.

She also lauded the growing relationship between Vietnam and Brazil relationship, especially the recent upgraded to a Strategic Partnership in November 2024, during the Vietnamese Prime Minister’s visit to Brazil to attend the G20 Summit. Brazil continues to be Vietnam's largest trade partner in Latin America, and the second-largest in the Americas; Vietnam is Brazil's biggest trading partner in the ASEAN.

The Vietnamese Government always wishes to promote stronger bilateral trade and investment cooperation with Brazil, she added, and pledged to create favourable conditions for JBS to do effective and long-term investment and business in the country for mutual benefit.

The Ministry of Planning and Investment will coordinate with relevant ministries, sectors and localities, and provide more specific information for the group to do research, seek opportunities and do business in Vietnam.

For his part, Costa noted that his visit aimed to explore investment and business opportunities in Vietnam toward engaging deeper into the Vietnamese market in particular, and Southeast Asia in general.

He hoped that the Vietnamese Government will open its market for the JBS’s livestock and poultry products, and support them to do business sustainably. Costa also expressed JBS’s commitment to expanding cooperation that algin with Vietnam’s orientation, and promise to strengthen business ties between Vietnam and Brazil./.

Bao Linh

Ministry of Planning and Investment