Vietnam, Cuba boost investment cooperation
(VOV) - The Vietnam Chamber of Commerce and Industry (VCCI) and the Cuba Embassy in Hanoi co-hosted a seminar on June 23 to introduce Cuban investment and development opportunities to Vietnamese businesses.
Nguyen Binh Minh, Vietnam-Latin America Business Council Vice President, praised cooperation relations for mutual development between Vietnam and Cuba in different fields like agriculture, bio-technology, education, health-care, sports and physical training.
Over the years, the two countries have signed a number of economic cooperation agreements, the bilateral trade cooperation has still remained stalled due to language differences and distance.
Last year, the bilateral trade value reached US$207.5 million, a year-on-year increase of 45%. Of the figure, Vietnam exported US$206 million worth of products to Cuba, mainly food, cereals, confectionery, footwear, ceramics, construction materials, coal and chemicals.
Vietnam imported more than US$1 million of pharmaceuticals and dietary supplements from the Latin American country.
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According to the statistics from the Ministry of Planning and Investment, Cuba has poured US$6.6 million in one project in Vietnam, ranking 69 out of 101 foreign investors in the country. Likewise Vietnam has invested in Cuba's two projects.
Cuban Ambassador to Vietnam, Hermino Lopez Diaz said the two countries signed an economic cooperation programme last year, and this year will witness many important events on bilateral cooperation.
Last year, Cuba developed the Mariel Special Economic Zone and started normalising relations with the US, giving businesses a chance to expand co-operations in potential industries, Diaz said.