Rice being one of Vietnam's main exports to Cuba (Source: VNA)
HCM City (VNA) – Foreign investors, including those from Vietnam, can invest in Cuba in sci-tech, industrial park and transport infrastructure development, renewable energy and biotechnology, said Cuban Consul General to Ho Chi Minh City Berbabe Garcia.

Speaking at an investment promotion conference in HCM City on September 23, the diplomat said his country is calling for foreign investment in its potential fields such as agro-forestry products and food, sugar cane production, industry, tourism, energy and mining.

The Cuban Government has encouraged cooperation and joint venture between domestic and foreign enterprises, aiming to attract more foreign investment in the country’s key sectors, he noted.

Cuba has great demand for textiles, construction materials, cosmetics, food, pesticide, fertilizer, paper and carton, he added.

Tran Ngoc Liem, Director of the Vietnam Chamber of Commerce and Industry’s branch in HCM City appreciated the trade and investment incentives the Cuban Government has given to Vietnamese businesses.

He stressed the conference offered a good chance for both sides’ businesses to establish investment and trade links, adding that Vietnamese firm should take the advantage of opportunities to increase exports to Cuba.

Two-way trade between Vietnam and Cuba hit 218.2 million USD in 2015, up 4.65 percent against the previous year. Vietnam’s export value to Cuba reached 214.6 million USD last year, with main exports being rice, coffee, chemicals, ceramics, machinery and spare part.

Many Vietnamese firms are running investment projects in Cuba, including the PetroVietnam Exploration Production Corporation (PVEP) under the Vietnam Oil and Gas Group, the Vietnam Glass and Ceramics for Construction Corporation (Viglacera), and electronics producer Hanel Co Ltd, among others.-VNA