Hanoi (VNA) - Prime Minister Pham Minh Chinh urged Vietnamese and Cuban enterprises to join hands for practical and effective cooperation outcomes, following the agreement by Party General Secretary To Lam and Cuban First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz-Canel Bermudez to deepen economic, trade, and investment cooperation.
Addressing a recent business meeting held by the Ministry of Construction of Vietnam, the co-chair of the Vietnam-Cuba Intergovernmental Committee, PM Chinh, underlined the need to expand partnership between the two nations in strategic sectors such as agriculture, solar energy, and biopharmaceuticals.
Accordingly, the PM assigned the Ministry of Agriculture and Environment, together with Vietnamese enterprises, to continue expanding rice cultivation and improving productivity in Cuba, and researching and developing models for fruit cultivation, livestock farming, and aquaculture to ensure sufficient food supplies for the Cuban people.
He also called on Cuban enterprises to expand cooperation and investment in Vietnam, particularly in areas where Cuba has strength and Vietnam has demand, such as biotechnology and pharmaceuticals, stressing that Vietnam should provide more fundamental and systematic support to Cuba, while both sides leverage their unique advantages and complementary strengths to foster shared growth for the two nations.
The PM suggested that businesses from both sides take the lead in proposing mechanisms and policies to address obstacles, thereby ensuring more effective bilateral investment and cooperation projects. He encouraged initiatives such as opening direct air routes, boosting tourism cooperation, and people-to-people exchanges, while promoting mutual support and experience-sharing under the principles of “harmonised interests and shared risks.”
Diaz-Canel praised the capacity of Vietnamese enterprises and noted that during his meetings with Party and State leaders of Vietnam, the two sides agreed on key issues, with particular emphasis on expanding the presence of Vietnamese businesses in Cuba.
The Cuban side expressed its wish for Vietnam to step up and expand cooperation and investment, particularly in agriculture, livestock, aquaculture, biotechnology, pharmaceuticals, consumer goods production, distribution and retail, tourism, real estate, and oil and gas exploration and exploitation; and promote technology transfer, joint research, and product commercialisation to help advance Cuba’s socio-economic development.
Cuba pledges to give greater incentives and create favourable conditions, while standing ready to address challenges faced by Vietnamese businesses operating in the country, Diaz-Canel stressed.
There remains huge potential for cooperation between the two countries, particularly in strategic priority sectors such as agriculture, energy, and biotechnology. Vietnam is currently the largest Asian investor in Cuba, with seven active projects and total committed capital exceeding 160 million USD.
In agriculture, Vietnam’s cooperation projects in rice, corn, soybean production, and aquaculture have produced positive results. However, these remain modest compared to Cuba’s potential and the capacity of Vietnamese enterprises.
The business meeting was a key event during the state visit to Vietnam by the Cuban leader, serving as an important platform to discuss and advance bilateral trade and investment cooperation.
Minister of Construction Tran Hong Minh expressed his belief that with Diaz-Canel's strong support and special attention, along with Cuba’s preferential policies and measures to ease difficulties for Vietnamese enterprises, joint investment and business projects between the two countries will be implemented more smoothly and effectively in the coming time.
He stressed that the meeting marks a new chapter in bilateral economic and trade cooperation, helping elevate the comprehensive Vietnam–Cuba cooperation to new heights, especially as the two countries celebrate the 65th founding anniversary of diplomatic ties (December 2, 1960 – 2025), a historic milestone that stands as a testament to their loyal friendship.
Cuban Deputy Minister of Foreign Trade and Investment Deborah Rivas Saavedra underscored the importance of effectively implementing the Vietnam–Cuba trade agreement and praised the diversity of investment cooperation models between businesses of the two nations. She called for stronger trade promotion, business networking, and expanded cooperation between localities, while encouraging further collaboration in food production, renewable energy, oil and gas, tourism, and biotechnology./.
