The ApexBrasil webinar on Vietnam, held on November 26, 2024, highlighted the country’s growing relevance in the global economy and its opportunities for Brazilian companies. The event featured Ambassador Marco Farani, Counsellor Elda Álvares from the Brazilian Embassy in Hanoi, Apex analysts, and Mr. Eduardo Batista from the Brazil-Vietnam Chamber of Commerce and Industry.
The Ambassador emphasized Vietnam’s transformation path. After the war and a period of isolation, in 1986 the country adopted the economic opening policy known as Doi Moi. Since then, Vietnam has maintained rapid growth, averaging 6 to 7% per year, becoming a dynamic economy open to foreign investment and strongly integrated into international trade. Today, it has free trade agreements with more than 60 countries and seeks to consolidate itself as a regional hub similar to Singapore.
Vietnam benefits from the “China plus one” strategy, attracting investment from multinationals seeking to diversify production and reduce risks linked to China. South Korea, Japan, Singapore, and Taiwan are among the main investors. The country is betting on semiconductors and high-tech industries, aiming to become a high-income economy by 2040. Its population of 100 million—young, disciplined, and well-educated—is a competitive advantage.
In relations with Brazil, bilateral trade reaches about USD 7 billion, with a goal of USD 10 billion by 2030. Brazil mainly exports agricultural products (corn, soybeans, meats), while importing electronics and components produced by multinationals in Vietnam. The challenge is to diversify the trade agenda, currently concentrated in agribusiness, into sectors such as health, construction, equipment, services, and innovation.
Mr. Eduardo Batista highlighted the role of the Brazil-Vietnam Chamber of Commerce and Industry, the first to operate officially between the two countries, with offices in São Paulo and Hanoi. He emphasized that the Chamber’s mission is to connect people and businesses, promoting both trade and cultural initiatives. Eduardo noted that there is already a consolidated Brazilian community in Vietnam and that the Chamber supports companies on both sides with market intelligence, events, fairs, missions, and direct contacts, helping to reduce information and regulatory barriers.
Beyond trade, tourism is a promising sector. Vietnam is expected to receive 18 million foreign visitors in 2024, generating USD 25 billion. There is interest in attracting more Brazilian tourists, with support from local agencies and Embratur.
In summary, Vietnam stands out as one of the most dynamic countries in the world, combining economic growth, political stability, and international integration. For Brazil, it represents a strategic yet underexplored market that requires greater business presence and diversified partnerships.