Brazil's company proposes cooperation with Vietnam in biofuels

Within the framework of the working visit to Brazil to attend the expanded BRICS Summit and engage in bilateral activities, Prime Minister Pham Minh Chinh on July 6 (local time) had a meeting in Rio de Janeiro, Brazil, with Mr. Daniel Lopes, Vice President of FS -  one of the pioneering companies specializing in ethanol production from corn in Brazil, and of the leading producers of low-carbon biofuels in Latin America.

At the meeting, Mr. Lopes affirmed that with its mission to promote sustainable growth, FS combines advanced technologies with smart farming practices to produce clean energy products such as ethanol, biomass power, and by-products for the livestock industry.

Highly appreciating Vietnam’s green development strategy, Mr. Lopes expressed his company's wish to promote a strategic cooperation with Vietnam on biofuels.

Prime Minister Pham Minh Chinh highly appreciated FS’s initiative and goodwill in fostering bilateral cooperation on biofuels. He noted that Vietnam is gradually implementing its national energy transition strategy and working to achieve its net-zero emissions target by 2050, as it had committed at COP26. Within this strategy, developing sustainable energy solutions, especially in the transportation sector, plays a vital role.

Welcoming FS’s proposal to promote a strategic cooperation with Vietnam on biofuels, the Prime Minister assigned relevant Vietnamese agencies to coordinate and study the formation of such a mechanism. He also encouraged FS to closely collaborate with Vietnam’s ministries, agencies, localities, and businesses to share experience in biofuel production.

Prime Minister Chinh expressed his hope that FS would expand its investment, business, and trade activities in Vietnam, and enhance cooperation with Vietnamese enterprises, including the Vietnam National Industry - Energy Group (Petrovietnam), to facilitate technology transfer and help Vietnamese businesses integrate into the global biofuel value chain.

Along with that, the Prime Minister also suggested that FS assist Vietnam in gaining access to E10 gasoline at a competitive price. Notably, the Prime Minister called for a joint study on potential cooperation between FS and Petrovietnam in developing ethanol production projects either in Vietnam or in Brazil.