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October Monday

Vietnamese president learns firsthand of business opportunities in Cuba



HAVANA, Cuba, Sep 20 (ACN) As part of his official visit to Cuba, the president of the Socialist Republic of Vietnam, Nguyen Xuan Phuc, visited the Mariel Special Development Zone (ZEDM by its Spanish acronym) to learn first-hand about the business opportunities in the area.

After learning about the potential of the place, the president praised the Cuban government for its willingness to create this space, a key investment to boost the country's economic development, while highlighting the investment opportunities offered by the Caribbean nation.

The Asian leader urged his country's ministers and businessmen accompanying him to find strategic areas of investment that are effective and bring a practical benefit to the Cuban people, especially in goods for daily use, as well as leading technologies such as clean energy.

The Vietnamese president thanked the presentation, which took place at the National Hotel, and stressed that his three-day visit to this country will contribute to strengthening and expanding ties of friendship and cooperation.

Vietnam is the second country with investments in the ZEDM, a productive and logistic platform for the establishment of companies whose production and services are destined to the domestic market or for export.

Our goal is for Vietnam to become the first country of investment within the ZEDM, we have started the path and Cuba is an investment place for Vietnamese brothers to settle, said Ana Teresa Igarza, general director of the platform with 59 approved businesses (34 in operation) and the presence of 21 countries.

Thai Binh Global, the first company with Vietnamese capital to set up in the ZEDM, is currently in the process of reinvestment for 14 million dollars and a production capacity to guarantee Cuba daily protectors, sanitary pads and wet wipes.

Igarza updated on the status of the ViMariel Industrial Park, which is being taken over by Viglacera S.A. company for an amount of 37 million dollars, which is expected to attract businesses from Vietnam and Asia especially, and already has two in its portfolio.

The Asian nation has positioned itself as Cuba's second largest trading partner in the Asia-Oceania region, as well as the main investor in the area and the largest rice supplier.

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