The meeting marked a new step forward in the bilateral economic relationship, which has been nurtured for over 25 years.

Both sides discussed opportunities to expand cooperation in Cuba’s priority development sectors. The Vietnamese delegation reaffirmed its commitment to sustaining and expanding its operations in the Mariel Special Development Zone (ZEDM), a key driver of Cuba’s economic growth.

The Thai Binh Group is one of the first Asian investors in ZEDM, currently operating a global supply network of 300 suppliers and 12 multi-sector production lines.

The group has successfully invested in two factories in the zone: a diaper and sanitary pad manufacturing plant inaugurated in November 2019, and a wet wipes production line launched in June 2021. In addition, the company runs a 20 MW solar power park, helping address Cuba’s energy challenges.

The strong presence of Vietnamese enterprises in Cuba has significantly contributed to strengthening bilateral trade ties, with two-way trade reaching US$250 million in 2024.

Vietnam - Cuba economic cooperation has seen significant achievements in recent years, playing an important role in Cuba’s socio-economic development.

The meeting took place amid Cuba’s ongoing efforts to attract foreign investment in consumer goods production, aiming to meet essential domestic needs and reduce reliance on imports. The successful partnership between Cuba and the Thai Binh Group is seen as a model for other foreign enterprises seeking opportunities in the Caribbean market.

Vietnam emerges as Asia’s economic driver in 2025, says Cuban media

VOV.VN - Cuba’s Cubavisión Internacional television channel recently aired a nearly 30-minute segment analyzing Vietnam’s impressive economic progress, describing the country as one of the fastest-growing economies in Asia.