Vietnamese firms interested in expanding partnership with Cuba

Vietnamese experts and businesses have reaffirmed the country’s interest in strengthening its investment and trade partnership with Cuban partners during Cuba’s third Investment Forum as part of the 36th Havana International Fair (FIHAV 2018).

Wednesday, October 31, 2018 16:49

Vietnamese firms interested in expanding partnership with Cuba ảnh 1

Vietnamese and Cuban businesses meet at FIHAV 2018 (Photo: VNA)

Havana(VNA) – Vietnamese experts and businesses have reaffirmed the country’sinterest in strengthening its investment and trade partnership with Cubanpartners during Cuba’s third Investment Forum as part of the 36th HavanaInternational Fair (FIHAV 2018).

Vu Van Chung, deputyhead of the Foreign Investment Agency under the Ministry of Planning andInvestment, said that the Vietnamese Government encourages local firms toinvest in potential markets that share traditional ties with Vietnam, as wellas those at a similar stage of economic development.

Chung gave a brief summaryof the foreign investment situation in Vietnam, as well as the role of thecapital city in promoting the country’s production, growth, job creation, andeconomic structure transformation.

Regardingopportunities to boost trade and investment between Vietnam and Cuba, Chungsaid that the two sides have worked together to push for a new bilateral freetrade agreement, which is likely to be the first deal Cuba will sign with anAsian partner.

He expressed hisbelief that the deal will help bolster trade affiliation activities between thetwo countries towards the target of 500 million USD in bilateral trade by 2022,much higher than the average figure of 200 million USD per year over the pastfive years.

During the forum,Vietnamese enterprises in food, animal breeding, food processing, construction,tourism, and tobacco exhibited their desire to seek new partnerships andstrengthen current collaboration with Cuban partners, while expressing theirbelief in the development prospects of Cuba along with the process of updatingthe socio-economic model.

Representatives fromVietnamese firms investing in Cuba, including Viglacera and Thai Binh company,shared their experience and affirmed their commitments towards implementingtheir projects efficiently to benefit both sides, while contributing to wider developmentin Cuba.

FIHAV 2018, whichopened on October 29, draws 2,500 enterprises from 60 countries and territoriesaround the world. First held in 1982, the event is the biggest annual fair ofCuba and one of the biggest of its kind in Latin America.

The fair will rununtil November 2. –VNA

VNA

#36th Havana International Fair (FIHAV 2018) #Cuba #Vietnam-Cuba relations #Vietnam #Vietnam news #Vietnam News Agency Cuba

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