Vietnam-Cuba business forum closes with the signing of trade agreements

Cuban and Vietnam signed seven agreements during the celebration this Friday, in Hanoi, of a Business Promotion Forum between both nations, framed among the activities of the visit made by the Cuban Prime Minister, Manuel Marrero Cruz, to the Asian country.

The first of the signed agreements was the notification of an agreement of the Executive Committee of the Council of Ministers of the Republic of Cuba which extends the validity of the Thai Binh Green Power branch in the Mariel Special Development Zone (ZED Mariel)according to a report from the agency Latin Press (PL).

The document, signed by the general director of the ZED Mariel, Ana Teresa Igarza, and the president of Thai Binh, Tran Ngoc Tu, also grants a new surface right to carry out the expansion of the first 20 MW in photovoltaic solar parks, of the 150 MW committed for 2023.

The Vietnamese company itself presented a preliminary proposal for the development of an agricultural-livestock project, also in the Special Zone, reports the newspaper.

The president of the business organization BioCubaFarma, Eduardo Martínez, signed Memoranda of Understanding with the T&T Group for biopharmaceutical and biotechnology cooperation, and with Danson Group Joint Stock Company (DS Group) to continue a long-term alliance in the area of biopharmaceuticals.

In addition, the director established another similar agreement with Duc Minh Medical Joint Stock Company (Almedic) for the evaluation of new therapeutic candidates.

The Center for Genetic Engineering and Biotechnology (CIGB), through the deputy director Yassel Ramos, signed a supply and distribution contract with Almedic itself and a Memorandum of Understanding with Sao Kim Pharma for the production of Proctokinase.

The agency highlights that representatives of more than 70 local companies attended the Vietnam-Cuba Business Forum, in which the Minister of foreign tradeand Foreign Investment (Mincex), Rodrigo Malmierca, presented a portfolio of opportunities made up of 678 projects, of which 21 may have a special attraction for the Vietnamese business community.

Malmierca referred to the 30 general and 17 sectoral principles that govern the policy on foreign investment (FDI) on the Island, which are updated periodically. “To modernize and make the economy more efficient, we need foreign capital,” he said, quoted by PL.

The Cuban delegation, headed by the Cuban Prime Minister, is making an official three-day visit to Vietnam, where it has held meetings with the top leaders of the Asian nation, exchanges that have been used by the parties to strengthen political and commercial relations.

This Friday, from Twitter, Marrero wrote: “In conversations with Nguyen Xuan Phuc, president of the Socialist Republic of Vietnam, we ratify Cuba’s support and commitment to strengthen the ties of friendship and brotherhood between our nations.”

Cuba became, on December 2, 1960, the first country in Latin America to establish diplomatic relations with Vietnam. Since then both nations have strengthened ties of friendship and cooperation.

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