Minister of Industry and Trade Tran Tuan Anh led a delegation from the agency on a working visit to Cuba from June 21-24, aiming to strengthen trade and investment cooperation between the two nations.
Food production is one of Cuba's priority to develop its economy
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At a working session with Cuba’s Deputy Minister of Industry Eloy Alvarez, the two ministers put words into action signed a Memorandum of Understanding (MoU) for industrial cooperation.
The agreement concentrates on bolstering short and medium-term industrial cooperation in light industry and the production of consumer goods to serve the domestic markets of both nations.
It provides Vietnamese businesses enhanced opportunities to increase their investments in the garment and textile sector in Cuba as well as in the manufacturing of leather shoes and other consumer goods.
At the meeting with leaders from Cuba’s Ministry of Foreign Trade and Overseas Investment, Deputy Minister Anh highlighted Vietnam’s recent accomplishments in modernising local production and boosting global exports.
Anh suggested that the host country create a Cuba and Mariel Special Development Zoneto provide a preferential mechanism for Vietnamese businesses to invest in Cuba. Creating such an industrial zone would mark a turning point in cooperation between the two nations, he said.
Representatives from Cuba’s Ministry of Foreign Trade and Overseas Investment agreed to continue to use their best efforts to offer favourable conditions for Vietnamese investment in the nation.
For his part, Deputy Minister Eloy Alvarez, echoed their sentiments pledging that Cuba will strive to make industrial cooperative relations reap fruitful results in the future, for the mutual benefit of both nations.
The agreement concentrates on bolstering short and medium-term industrial cooperation in light industry and the production of consumer goods to serve the domestic markets of both nations.
It provides Vietnamese businesses enhanced opportunities to increase their investments in the garment and textile sector in Cuba as well as in the manufacturing of leather shoes and other consumer goods.
At the meeting with leaders from Cuba’s Ministry of Foreign Trade and Overseas Investment, Deputy Minister Anh highlighted Vietnam’s recent accomplishments in modernising local production and boosting global exports.
Anh suggested that the host country create a Cuba and Mariel Special Development Zoneto provide a preferential mechanism for Vietnamese businesses to invest in Cuba. Creating such an industrial zone would mark a turning point in cooperation between the two nations, he said.
Representatives from Cuba’s Ministry of Foreign Trade and Overseas Investment agreed to continue to use their best efforts to offer favourable conditions for Vietnamese investment in the nation.
For his part, Deputy Minister Eloy Alvarez, echoed their sentiments pledging that Cuba will strive to make industrial cooperative relations reap fruitful results in the future, for the mutual benefit of both nations.
