Vietnam, Cuba see ample room for trade-investment cooperation
There is lots of room available for Vietnam and Cuba to step up commerce and investment cooperation, especially in farming and food processing, heard a forum promoting trade between the two countries held in Ho Chi Minh City on May 12.
HCM City (VNA) – There is lots of room available for Vietnamand Cuba to step up commerce and investment cooperation, especially in farmingand food processing, heard a forum promoting trade between the two countries held in Ho ChiMinh City on May 12.
Vietnam is currently Cuba’s second biggest trade partner andbiggest foreign investor in Asia. Bilateral trade value ranged between250 and 350 million USD in the 2015-2020 period, with Vietnam running fiveprojects in Cuba. Meanwhile, the Caribbean country has conducted a project onproducing bio-products in Vietnam.
Duong Anh Duc, Vice Chairman of the HCM City People’sCommittee, said boosting the economic relationship to be on par with thepolitical and diplomatic ties is a key mission agreed by leaders.
Regular trade-investment promotion programmes and exchangesof business delegations will enhance mutual trust and connectivity and help Vietnamesefirms seek investment opportunities in the Cuban market, he noted.
Deputy Minister of Agriculture Maury Hechavarria Bermudez said Vietnamese and Cubanleaders’ agreement on increasing economic cooperation has so far beentranslated into specific actions, particularly the promotion of new investmentprojects in Cuba’s farm produce and food production sectors.
Cuba wishes to strengthen joint work with Vietnam in producing rice and coffeeproducts, manufacturing machinery for agricultural production, expanding exportmarkets, attracting financial investment, and promoting research anddevelopment of new energy, the official stated.
He affirmed that Cuba is committed to assisting investorswith special tax incentives, human resources, infrastructure, and technology.
At the forum, the Cuban Ministry of Agriculture introduced 54 priority projectsto attract investment, with Cuban businesses calling on able investors to supplyseed materials, fertilizers, pesticides, and agricultural machinery servingcooperation in production and productivity improvement./.
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At the forum (Photo: VNA) 
