PM encourages Brazilian meat processing giant to expand operation in Vietnam
(VOVWORLD) - Vietnam is committed to strengthening trade and investment ties with Brazil, said Prime Minister Pham Minh Chinh at a reception on Thursday with Renato Costa, CEO of Friboi, a subsidiary of Brazil’s JBS S.A. – the world’s largest processor of beef and poultry.
 Prime Minister Pham Minh Chinh receives Renato Costa, CEO of Friboi, a subsidiary of Brazil’s meat processing company JBS S.A, Hanoi, February 13, 2025. (Photo: Duong Giang/VNA) |
Founded in 1953, JBS S.A has operated a 5 million USD leather-processing venture in Vietnam since 2014, producing approximately 7.5 million square meters of leather annually.
PM Chinh encouraged JBS S.A. to expand its operations in Vietnam, particularly in livestock farming, meat processing, industrial crops, and coffee processing. He also suggested that the firm explore joint ventures or direct investment opportunities with Vietnamese businesses.
The PM emphasized the importance of diversifying markets, products, and supply chains and urged JBS S.A. to connect other Brazilian enterprises with Vietnam. According to Mr. Chinh, Vietnam wants to enhance cooperation with Brazil in the mineral sector and is ready to serve as a gateway for Brazilian businesses looking to enter Southeast Asia and other markets where Vietnam has free trade agreements.
Mr. Costa expressed appreciation for Vietnam’s support and asked for continued favorable conditions for JBS S.A.'s business and investment expansion. He pledged to strengthen connections between Brazilian and Vietnamese businesses and promote collaboration in the areas suggested by the PM.