The Forum for the Promotion of Trade and Investment Vietnam–Cuba began this Friday at the Hotel Nacional with the assistance of Prime Minister Manuel Marrero and Vuong Dinh Hue, president of the National Assembly of the Asian country.
The new owner of Foreign Trade and Foreign Investment (Mincex), Ricardo Cabrisas, welcomed the attendees and explained details of the relations between the parties, according to report of Latin Press (PL).
We participate in the Business Forum #Cuba–#Vietnama propitious opportunity for the signing of agreements between our nations, in order to continue increasing bilateral cooperation relations and draw up mutually beneficial actions. pic.twitter.com/vWfJoFn64p
– Manuel Marrero Cruz (@MMarreroCruz) April 21, 2023
Cabrisas reported that the meeting seeks to consolidate spheres such as the economy, trade, and science and technology. In fact, memorandums of understanding have already been signed between Vietnam Airline and Cubana de Aviación; the Electric Union of Cuba (UNE) and the Vietnamese company Power Engineering Consulting Join Stock Company 2 (EVN-PECC2), and between the Cuba Petroleum Union (CUPET) and Petro Vietnam Ltd.
The same documents were also initialed by DINVAI Construcciones SA and Hoa BINH SA in the construction materials segment.
The agreements as part of this meeting aim at spheres such as health, pharmaceuticals, agriculture and investments in general, as well as identifying the investment potential between the parties, according to PL.
They have already identified new business interests in the very short term in sectors such as agri-food, renewable energy, tourism and construction, according to Cabrisas, who announced that they also plan to work in the production and marketing of rice, coffee, grains, chicken and pork feed; Likewise, work in mixed, commercial, hotel and other companies linked to the construction materials industry.
During his speech, and according to the PL report, Cabrisas reiterated the experience of cooperation with the increase in joint projects and plans that cover the main areas, and the presence of Vietnamese firms in the Mariel Special Development Zone (ZDEM).
Both nations have a long history in terms of both political and commercial relations. Last September, during Marrero’s visit to Vietnam, they signed 10 agreements, including memoranda of understanding, letter of intent, and supply and distribution contract.
Cabrisas announced that the 41st version of this business forum will take place in the last quarter of this year, points out PL.
