Argentina, Viet Nam discuss joint projects in agriculture, energy and mineral

Speaking in Hanoi earlier this week, Argentine Ambassador Marcos Antonio Bednarski emphasized that Viet Nam is taking on an increasingly significant role in Argentina’s economic and technical engagement with the region, noting that the two countries now have more conditions than ever to expand collaboration.

The seminar, titled “Investment Opportunities in Argentina: The Large Investment Incentive Regime (RIGI) and Strategic Sectors,” was held at the Argentine Embassy and drew representatives from numerous Vietnamese ministries along with dozens of businesses working in agriculture, logistics, food processing, technology, and investment. It served not only as a platform to present Argentina’s new investment policies but also as an opportunity to reaffirm the growing importance of Viet Nam in Argentina’s regional strategy.

In his presentation, Ambassador Bednarski outlined Argentina’s economic profile using figures from the briefing materials shared at the event. Argentina is the third-largest economy in Latin America, with a GDP of USD 633 billion in 2024 and an expected rise to USD 683 billion in 2025. The country has a population of 46.2 million, a labor force of approximately 22 million, and a literacy rate reaching 99 percent, supported by a long-standing system of public universities. Argentina’s position in international economic structures is also notable. It is a member of the G20, the World Trade Organization, and MERCOSUR, the Southern Common Market, which offers access to a combined market of nearly 295 million consumers across South America. The country is simultaneously advancing procedures to join the Organisation for Economic Co-operation and Development (OECD), a move expected to strengthen governance and align regulations with international standards.

The Ambassador also highlighted the structure of Argentina’s economy, built on a combination of agricultural production, energy resources, manufacturing industries and service sectors. Agriculture remains central, with soybeans, beef and wheat forming the backbone of Argentina’s export economy. At the same time, the country possesses immense energy potential through oil, natural gas and renewable power generation. Bednarski explained that these structural strengths align well with Viet Nam’s needs, especially as Viet Nam pursues food security, agricultural modernization and energy transition.

A milestone in bilateral cooperation took place in July 2024 when Argentina opened its Agricultural - Industrial Attaché Office in Hanoi. The office immediately began supporting preparations for the 8th Intergovernmental Committee Meeting held virtually in October, during which both sides agreed on a renewed cooperation framework focusing on market access, quarantine transparency and technical exchange. According to Ambassador Bednarski, the establishment of the attaché office has allowed Argentina to understand Viet Nam’s needs “more quickly, more accurately, and in closer alignment with businesses,” while also improving coordination with Vietnamese authorities.

Agricultural trade continues to dominate economic relations between the two nations. Roughly 92 percent of Viet Nam’s imports from Argentina are agricultural products, particularly soybean meal and other feed ingredients essential to Viet Nam’s livestock industry. Bednarski explained that this imbalance reflects demand rather than policy limitations. However, Argentina is actively seeking to diversify its export profile. Negotiations are underway to open the Vietnamese market for pork, one of Argentina’s key export products, as well as for apples, pears and other temperate-climate fruits. The Ambassador noted that diversification will depend on identifying products that Viet Nam needs and that Argentina can reliably supply, but he expressed confidence that cooperation in this area would continue to expand.

Beyond commerce, technical cooperation represents another area where bilateral engagement has grown substantially. Viet Nam is currently the largest recipient of FO.AR projects, Argentina’s South - South and Triangular Cooperation Fund in Southeast Asia. Projects underway include research on high-yield rice varieties, the development of high-productivity soybean strains, dairy-processing technologies and programs supporting the growth of tropical fruit production. Bednarski said research institutes and universities in both countries are preparing new initiatives for next year, with a focus on precision agriculture, crop and livestock management, and advanced food-processing technologies. These are fields in which Argentina has notable expertise, and the Ambassador emphasized that cooperation would involve not only trade but also scientific and technological exchange.

The seminar also provided a platform for Argentina to present its ongoing economic reforms. According to the slides shared with participants, Argentina has moved rapidly to normalize trade and modernize regulatory frameworks since President Javier Milei took office in December 2023. Between late 2023 and mid-2025, the government issued 126 regulatory adjustments to reduce or eliminate tariff and non-tariff barriers, simplify import procedures, and remove outdated technical restrictions that previously hindered trade. Argentina recorded 102 new market openings and 17 re-openings between 2024 and 2025, signaling unprecedented openness. Bednarski also referenced the national “May Pact”, a ten-point framework adopted in 2024 that outlines commitments to fiscal balance, tax reform, education modernization, resource development and political restructuring. These reforms, he said, are intended to create a more predictable and stable environment for foreign partners, including Viet Nam.

The second part of the seminar featured a presentation by Francisco Franco Martinez, Head of the Economic, Commercial and Investment Section of the Argentine Embassy, who provided an overview of the Large Investment Incentive Regime (RIGI). Legalized in August 2024, RIGI aims to attract large-scale projects valued at USD 200 million or more across mining, energy, oil and gas, infrastructure, tourism, forestry, technology and steel. The regime includes significant incentives such as a 25-percent corporate income tax rate, accelerated depreciation benefits, unlimited tax-loss carryforward, duty-free import of capital goods and export-tax exemptions beginning in the third year. Martinez noted that numerous multi-billion-dollar proposals, ranging from lithium and copper projects to major renewable-energy installations and new steel manufacturing capacity, have already been filed under RIGI, demonstrating Argentina’s determination to create a competitive investment landscape.

 Ambassador Bednarski said that Viet Nam is gaining a growing role in Argentina’s regional cooperation strategy. He noted that the two countries are entering a favorable period for expanding economic ties, particularly in fields where their respective strengths and market demands converge. Agriculture, energy and mineral resources, he suggested, remain the most promising areas for collaboration, with opportunities driven by Argentina’s ongoing reforms and Viet Nam’s rapidly developing economy.