Bac Ninh enterprises exchange and promote investment in Cuba

On the morning of April 8, the Department of Finance coordinated with the Cuban Embassy in Vietnam to organize a conference to meet and promote investment in the Cuban market with the participation of nearly 30 enterprises in Bac Ninh province.

Conference overview

At the Conference, Bac Ninh enterprises were introduced to the Mariel Development Zone, aiming to seek cooperation opportunities and attract investment in Cuba in general and the Mariel Development Zone in particular. This zone is located at the port of Mariel, with an area of ​​about 465 km2, and is the first and only Special Economic Zone in Cuba to date. There are currently 62 enterprises with a total registered capital of more than 3 billion USD, of which 56 projects with a total capital of more than 1 billion USD have come into operation, creating jobs for more than 15,000 workers. Along with existing policies, the zone is building more attractive mechanisms for foreign investors, and at the same time has solutions to remove difficulties in raw materials, fuel, production materials, transportation, payment, etc. In the coming time, the zone will focus on attracting investment in 54 different fields, focusing on industry, food processing, logistics and transportation, etc.

Regarding the cooperation between Bac Ninh province and Cuba, Dabaco Vietnam Joint Stock Company recently signed a cooperation agreement in the fields of pharmaceuticals, vaccines and biotechnology with Labiofam Entrepreneurial Group (Cuba); the Cuban enterprise will transfer technology and send experts to Vietnam to coordinate with Dabaco Group to carry out specific projects. In addition, Dabaco Group and Labiofam are considering building a joint Research and Development (R&D) Center in Bac Ninh province to provide advanced technologies for research and development of vaccines, diagnostic biological products and pharmaceuticals, etc.

At the conference, businesses from Bac Ninh province focused on exchanging and discussing procedures and processes for investment, production and business in Cuba. This is an important opportunity to strengthen the friendship between Cuba and Vietnam; at the same time, for Bac Ninh and businesses in the province to learn more about Cuba's investment environment, especially the Mariel Special Development Zone, a potential strategic economic center of Cuba.

Pham Tien, Vu Tuyen

Source: http://bacninhtv.vn/tin-tuc-n22228/doanh-nghiep-bac-ninh-trao-doi-xuc-tien-dau-tu-vao-cuba.html