Viglacera starts construction of first IP at Cuban special economic zone
ViMariel S.A – a subsidiary of Vietnam Glass and Ceramics for Construction Corporation (Viglacera) – began construction of the first industrial park in Mariel Special Economic Development Zone (ZEDM) in Cuba on November 28.
Minister of Construction Pham Hong Ha speaks at the groundbreaking ceremony of the first industrial park in Mariel Special Economic Development Zone (ZEDM) in Cuba. (Photo: VNA)Havana (VNA) – ViMariel S.A – a subsidiary of Vietnam Glass and Ceramics for Construction Corporation (Viglacera) – began construction of the first industrial park in Mariel Special Economic Development Zone (ZEDM) in Cuba on November 28.
The groundbreaking ceremony was attended by Vice President of the Councils of State and Ministers Ramiro Valdes Menendez and Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz from Cuba alongside Vietnam’s Minister of Construction Pham Hong Ha and Ambassador to Cuba Nguyen Trung Thanh.
Addressing the event, Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz spoke highly of the project, saying its construction begins with the 36th meeting of the Vietnam – Cuba Inter-Governmental Committee taking place in Havana from November 26 – 30.
He also expressed his confidence in the success of the “strategic” project which was described as “special” in the two countries’ relations.
Minister of Construction Pham Hong Ha, for his part, said long-standing ties between Vietnam and Cuba have laid a strong foundation for Viglacera to carry out this project. He expected the project would meet the needs for development of both nations.
ViMariel S.A was established by Viglacera in February 2018. The firm has obtained rights to build an industrial park with complete road, telecommunications, water supply and electricity infrastructure on an area of 156 hectares in the ZEDM. It was authorised to exploit the industrial park for 50 years.
The construction of the industrial park will cost about 300 million USD and is expected to be complete after five years.
The project is a result of General Secretary of the Communist Party of Vietnam Nguyen Phu Trong’s State visit to Cuba in March, 2018.
It is the first fixed-term operation and maintenance project Cuba has granted to a fully foreign-owned company in the ZEDM.
In 2016, Viglacera entered into a joint venture partnership with Cuban developer Geicon to manufacture building materials in Cuba, of which, Viglacera is responsible for upgrading two existing ceramics and sanitary ware plants and investing in two more, four years after the joint venture is operational. –VNA
Video
Aviation authority proposes full resumption of domestic air routes from December
Outstanding contributors to peacekeeping activities honoured
Vietnamese Innovation Network in Europe debuts
Quang Binh welcomes first tourists after pandemic-caused hiatus
Six Vietnam resorts among Asia's 25 best: Condé Nast Traveler
You should also see
PM: Vietnam creates environment conducive to women’s advancement
Prime Minister Pham Minh Chinh has affirmed that Vietnam has created an environment conducive to women’s advancement in society.
See more
Business
Residential area per capita to reach 27sq.m by 2025
Vietnam’s residential area per capita is expected to reach about 27sq.m by 2025 and to surge to 30sq.m by 2030, according to the draft national housing development strategy.
Business
Enterprises urged to strictly follow standards of imported markets: SPS Vietnam
The Vietnam Sanitary and Phytosanitary Notification Authority and Enquiry Point (SPS Vietnam) has advised enterprises to strictly comply with the rules of import markets, in order to prevent their products from being recalled and their reputations from being affected.
Business
HCM City enhances cooperation with China’s Shanghai
Vice Chairman of HCM City People’s Committee Duong Anh Duc and Vice Mayor of China’s Shanghai Zong Ming discussed cooperation orientations between the two cities during virtual talks held on October 19.
Business
Earning big, banks urged to further cut interest rates for affected borrowers
Since commercial banks has seen big earnings during the third quarter of 2021 despite social distancing measures in place in many cities and provinces, insiders believed there is still room for lenders to further cut interest rates for enterprises affected by COVID-19.
Business
Associations join hands to boost sale of Vietnamese products abroad
The Vietnam-Korea Business and Investment Association (VKBIA) and the Vietnam Business Association in the United Kingdom (VBUK) on October 18 signed virtually a memorandum of understanding (MoU) on comprehensive cooperation with the aim of stepping up coordination in promoting, attracting investment in and supporting the sale of Vietnamese products abroad.
