A Vietnamese company will invest more than 50 million dollars in an agricultural project in the province of Artemisa, focused on the development of cashew value chain and other short-cycle cropsas reported this Monday Cubadebate.
The initiative is part of the framework of strategic cooperation between Cuba and Vietnam and seeks to strengthen the productive base of the territory with a view to both domestic consumption and export.
The agreement was formalized earlier this month at the headquarters of the Cuban Ministry of Agriculture through the signing of an International Economic Partnership Contract for Agricultural Production between Hoang Gia Viet Food Company, JSC (Viet Royal) and the Alquízar Agricultural Company, belonging to the Artemisa Agricultural and Forestry Business Group.
The project will have an initial duration of 25 years, extendable, and foresees the exploitation of about 2,000 hectares of land in the province.
According to official information, the investment committed by the Vietnamese side amounts to 50.56 million dollars.
Of that amount, 29.1 million will be allocated to the acquisition of technological equipment and 21.45 million to means of transportation linked to agricultural production.
The scheme is protected by the Cuban Foreign Investment Law and combines Vietnamese capital, technology and experience with local agricultural potential, with emphasis on technological modernization, value addition and insertion into external markets.
The authorities of both countries indicated that the program aspires to become a model of effective cooperation.
Likewise, it is expected to have an impact on technology transfer, increased productivity and diversification of agricultural production in Artemisa, in a context marked by the island’s food crisis.
Agricultural collaboration between Vietnam and Cuba
The announcement comes as another experience of agricultural collaboration between Cuba and Vietnam.
In the municipality of Los Palacios, Pinar del Río, the Vietnamese company Agri VMA became the first foreign entity to receive Cuban lands in usufructa project that began two years ago and recently showed its first harvests.
Currently, the company manages about a thousand hectares, with the expectation of reaching 5,000 within three years, and reports yields of more than 7.2 tons per hectare, well above national records for 2024 and plans for 2025.
In this scheme, the company provides key inputs such as seeds, fertilizers and insecticides.
Cuba and Russia promote rice project in Sancti Spíritus to revive national production
Vietnam is also Cuba’s main rice supplier.where grain constitutes a basic food with average consumption of more than 60 kilograms per person per year, according to data cited by EFE.
In recent years, together with China, the Asian country has donated shipments of rice to the island.
Cuba allocates around 2 billion dollars annually to importing food for the basic basket, in the midst of an economic crisis characterized by a shortage of essential products, frequent blackouts and high inflation, aggravated by the pandemic, the tightening of US sanctions and failures in internal economic policy.
