The Vietnam-Cuba Trade and Investment Promotion Forum will begin its sessions today with the presence of the president of the Vietnamese National Assembly, Vuong Dinh Hue, and a business delegation.
In the event -organized by the Chamber of Commerce of the Republic of Cuba- a large delegation of businessmen from various sectors such as energy, agricultural machinery, iron and steel, electronics, recycling, electromotive, biotechnological and medical equipment, fruit marketers, and of aviation, will participate.
Both nations have a long history of political and commercial relations. Last September during the visit to Vietnam of Cuban Prime Minister Manuel Marrero, 10 agreements were signed, including memorandums of understanding, letter of intent and supply contract and distribution.
On that occasion, Marrero assured that Vietnam is consolidating as the main investor and the second commercial partner of Cuba in the Asian region. For his part, the Vietnamese Vice Prime Minister, Le Minh Khai, said that commercial exchanges could reach about 500 million dollars a year, from the current 350 million dollars.
Among the documents signed, on that occasion, is the notification of an agreement of the Executive Committee of the Council of Ministers of the Republic of Cuba that extends the validity of the Thai Binh Green Power branch in the Mariel Special Development Zone (ZEDM).
A new surface right was added to the agreement to execute the expansion of the first 20 megawatts in photovoltaic solar parks, of the 150 committed for 2023, in addition to a Vietnamese proposal for an agricultural-livestock project, in the ZEDM.
On the other hand, the business organization BioCubaFarma signed separate memorandums of understanding with the T&T Group for biopharmaceutical cooperation and biotechnology.
Together with a long-term alliance in the area of biopharmaceutical products with Danson Group Joint Stock Company (DS Group) and another document with Duc Minh Medical Joint Stock Company (Almedic) for the evaluation of new therapeutic candidates.
Meanwhile, the Center for Genetic Engineering and Biotechnology (CIGB), through deputy director Yassel Ramos, signed a supply and distribution contract with Almedic and a memorandum of understanding with Sao Kim Pharma for the production of Proctokinasa.
Also at that time, the Minister of Foreign Trade and Investment, Rodrigo Malmierca, presented the portfolio of opportunities made up of 678 projects, of which 21 may have a special attraction for Vietnam’s business community.
