Long An promotes investment and trade cooperation with Cuba

Long An province delegation and accompanying businesses attending the Vietnam - Cuba Business Forum

Long An attended the Vietnam - Cuba Business Forum organized by VCCI

On November 8, 2023, Long An province delegation attended the Vietnam - Cuba Business Forum held at the ExpoCuba Fairground Convention Center, Havana. This is an important program within the framework of FIHAV 2023 organized by VCCI, with the attendance of many Vietnamese and Cuban agencies, associations and businesses to promote bilateral cooperation based on the close diplomatic relationship between the two countries.

The forum was chaired by Cuban Minister of Transport - Eduardo Rodriguez Dávila, President of the Cuban Chamber of Commerce - Antonio Luis Carricarte, Head of VCCI International Relations Department - Nguyen Tuan Hai and representatives of large Vietnamese and Cuban businesses and corporations.

Speaking at the opening ceremony of the forum, leaders of the Cuban Chamber of Commerce highly appreciated the friendly and cooperative relationship between the two countries. The two sides have carried out practical activities to upgrade political and diplomatic relations, maintaining a bond of brotherhood and always create favorable conditions for the people and businesses of the two countries to upgrade cooperative relationship to new heights. Recently, the two sides have promoted bilateral investment cooperation commensurate with political and diplomatic relations. Vietnam is currently the largest foreign investor in Cuba in Asia with 5 major projects implemented.

Vice Chairman of Long An Provincial People's Council - Mai Van Nhieu speaks at the conference

Attending the forum, Vice Chairman of Long An Provincial People's Council - Mai Van Nhieu shared that despite being geographically far apart, Vietnam and Cuba always accompany each other and have similarities in the work of building, defending the country, revolutionary ideals and heroic traditions of the two nations. He said that promoting bilateral trade and investment cooperation based on the foundation of political ties is not only the wish of the provincial leaders but also the aspiration of the local people. Long An province leaders have affirmed their commitment to strengthen investment and trade relations with Cuban partners. At the same time, he expressed confidence in the expectation of development cooperation and investment connection between businesses of the two countries.

Acting Director of Department of Planning and Investment - Truong Van Liep introduces the investment environment of Long An province

In the working program, Acting Director of Department of Planning and Investment - Truong Van Liep introduced the investment environment and outstanding achievements in the province's socio-economic development in recent times. At the same time, he also highlighted the province's investment attraction orientations, affirming that Long An is ready to welcome and create the best conditions for Long An and Cuban businesses to research, learn, cooperate and invest in the strengths of both sides based on traditional cooperative relationships and development potential.

Delegates and businesses of the two countries discussed the potential for cooperation in many areas, thereby updating important information and better understanding the mechanism of trade incentives and investment attraction Vietnam and Cuba as a basis for research, trade promotion and investment projects. After the forum, Cuban organizations and businesses highly value and appreciate the ability to cooperate with Long An and wish to build long-term and sustainable investment and trade cooperation relationships with the province in the near future.

Long An learns about typical commercial products in Cuba

At the end of the forum, the Long An province delegation attended the 39th La Habana International Fair (FIHAV 2023) - the largest fair in Central America and the Caribbean, gathering over 4,500 business representatives from 70 countries and territories around the world. Notably, the above event had the participation of booths of Vietnamese businesses and brands to promote typical, high-quality products to export to the Latin American market.

The delegation of Long An province visits the Vietnamese booth at the La Habana International Fair

Regarding trade cooperation, Vietnam is currently Cuba's second largest Asian trade partner. In the period 2015-2020, bilateral trade turnover reached about 250-350 million USD. The main products that Vietnam exports to Cuba are rice, electrical appliances, electronics, clothes, shoes, cosmetics, construction materials, industrial materials, household appliances, stationery, etc. Vietnamese products are always highly appreciated by Cuban people for their quality and variety of designs.

Leaders of Long An province paid a courtesy visit to the Deputy Prime Minister of Cuba

On the morning of November 9, 2023, leaders of Long An province had an intimate working session with First Deputy Prime Minister and Minister of Foreign Trade and Investment Ricardo Cabrisas.

Speaking at the meeting, he recalled the loyal and close diplomatic relationship between Vietnam and Cuba, in which maintaining and developing the cooperative relationship between the two sides is a core factor to upgrade relationships to new heights.

In addition, he also shared about orientations to attract foreign investment and special investment incentive policies to invite investors to Cuba, especially in the fields of industry, high technology agriculture, clean energy, healthcare. He pledged to have special support policies for Vietnamese businesses that wish to research and invest in Cuba. If there are any difficulties, Cuban government agencies will actively support, and even direct dialogue.

Vice Chairman of Provincial People's Committee - Nguyen Minh Lam appreciated the welcome of Mr. Ricardo Cabrisas, hoping that there will be investment cooperation connections between the provincial government and provincial businesses in Cuba in the future.

Provincial leaders pay a courtesy visit to the Deputy Prime Minister of Cuba

The provincial delegation visits and works in the Mariel Special Economic Zone

As part of the work schedule in Cuba, the province's delegation had a working session with the Mariel Special Economic Zone Management Board. This is the first and only special industrial zone in Cuba located in Artemisa province, with a prime geographical location in the center of the Caribbean Sea, at the crossroads of the main maritime trade routes in the Western Hemisphere. In the future, Mariel Special Economic Zone will gather overall local resources for development; invest in modern, impressive infrastructure in industrial parks to attract foreign investment.

Besides, Cuba will also focus on developing clean, green energy to help reduce waste and protect the environment. The leaders of the Management Board of Mariel Special Economic Zone hope that there will be many opportunities to exchange information and introduce and promote the characteristics and investment potential to the Vietnamese business community in general and Long An in particular.

Speaking at the meeting, leaders of Long An province highly appreciated the preparatory steps to orient the development of the Mariel economic zone in the future, especially the mechanisms to attract investment, taking advantage of location to form a special zone that is suitable to the characteristics and development situation of Cuba. The province will inform about Mariel to Long An businesses that wish to invest abroad in the near future.

At the same time, at the meeting, businesses in the province also enthusiastically discussed to learn about investment research methods in Cuba, including sharing questions about foreign currency payment policies and the import of materials for project development.

The delegation works with the Mariel Economic Zone Management Board

During the working program in Cuba, the delegation surveyed a number of famous projects, industrial models, high-tech agriculture, and culture in Cuba before moving to the United States to continue investment promotion activities./.

By Vu Dat - Translated by Q. Thien

Source: https://baolongan.vn/long-an-thuc-day-quan-he-hop-tac-dau-tu-thuong-mai-voi-cuba-a166154.html