Vietnam sees opportunities to deepen engagement with BRICS: Trade Counsellor

Vietnam’s push to deepen ties with BRICS, particularly through science, technology, and digital transformation, reflects a strategic diversification beyond traditional Western partnerships. The focus on two-way investment and supply chain integration suggests a pragmatic approach to securing capital and market access for its growing tech and manufacturing sectors. For example, increased engagement with India, a major BRICS member, could open new avenues for Vietnamese startups seeking to scale or access India’s vast consumer market and engineering talent. This move could also provide alternative sources for critical technology components and R&D collaboration, reducing reliance on single-country supply chains. The immediate impact for Asian tech companies will be in how these economic blocs translate into tangible policy shifts or investment incentives. While the stated intentions are broad, the actual implementation of cooperation in areas like digital transformation will require specific agreements and funding mechanisms. The risk lies in the potential for these discussions to remain high-level without concrete projects or significant capital flows materializing in the short term, especially for smaller Vietnamese tech firms. The real test will be the specific deals and partnerships announced following the Prime Minister’s visit to New Delhi.