HAVANA, Cuba, Mar 26 (ACN) Vietnamese Thai Binh Investment Trading Corp based in the Mariel Special Development Zone since 2016 will begin to produce sanitary pads and disposable diapers.
In statement to ACN, the General Director of the company, Vi Nguyen Phuong, said that the factory currently under construction will produce 40 million disposable diapers and 150 million sanitary pads a year.
The objective of the investment, which will total over 9 million dollars, is to offer the local consumers high quality articles, said Thai Binh, the company's representative present in Cuba since almost 20 years.
To satisfy the growing demand of the national clients, the Vietnamese company decided to expand its investment activities in the Mariel Special Development Zone where they are also constructing a detergent plant with a capacity of 50 thousand tons a year, said the directive.
He added that the new project is a joint venture in association with the Cuban Nexus S.A. Industrial Mercantile to be presented next month at the Mariel Office for its performance in 2020.
Thai Binh's decision to invest on the island is an example of the confidence of the Cuban market, advantages and safety.
Hanoi and Havana has a historic relation of friendship for over half a century. Vietnam is Cuba's second trading partner in Asia and Oceania and main supplier of rice.
The General Secretary of the Vietnamese Communist Party, Nguyen Phu Trong will be visiting the Caribbean island March 28th to the 30 th with the objective of strengthening bilateral ties.