Vietnam, Cuba join hands to produce construction materials
The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) and Cuba’s Geicons Group are set to establish a joint venture producing ceramics sanitary wares and tiles in October.
Hanoi (VNA) –The Vietnam Gla♋ss and Ceramics for Construction Corporation (Viglacera) and Cuba’s Geicons Group are set to establish a joint venture producing ceramics sanitary wares and tiles in October.
According to Viglacera, the two sides signed an agreement on the joint venture in April.
The joint venture, once established, will contribute to meeting the demand on construction materials in Cuba as well as the Latin American market.
Vietnam is the second biggest trad෴e partner of Cuba in Asia, with bilateral trade value exceeding 207 million USD in 2014, according to the General Department of Vietꦗnam Customs.
Vietnam’s major exports to Cuba include rice, coal, chemicals, textiles and computers; while Cuba exports pharmaceuticals to Vietnam, worth nearly 1.3 million USD.
According to the Ministry of Planning and Investment, as of December 2015, there was one Cuban project operating in Vietnam with a registered capital of 6.6 million USD. Vietnam also had one oil project in Cuba.-VNA
A delegation from the Ministry of Construction led by its Deputy Minister Le Quang Hung paid a working visit to Cuba with the aim of promoting cooperation on economy, trade and investment.
The Vietnam Glass and Ceramics for Construction Corporation (Viglacera) recently inaugurated its first showroom under the Cuban Ministry of Construction’s Escambray chain stores.
Minister of Construction Pham Hong Ha urged Cuban leaders to facilitate the early establishment of a joint venture between the Viglacera and the Cuban Geicons Group.
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Illustrative photo (Source:Internet)
