Strengthening cooperation and investment in Mariel Special Development Zone

Established in November 2013, the Mariel Special Development Zone stands as Cuba’s first special economic model, offering numerous incentives regarding taxes, administrative procedures, land, and energy. Boasting a synchronous and modern infrastructure, the zone has attracted over 60 projects, including 52 foreign ventures. Vietnam currently operates nine investment projects in this area.

During the working session, Deputy Prime Minister Ho Quoc Dung described the Mariel Special Development Zone as a symbol of Cuba’s resilience, spirit of innovation, and new development vision. He emphasized that the construction and development of the Mariel Zone represent a strategic move amidst current challenges, demonstrating breakthrough thinking and long-term vision. This initiative serves as a crucial key for Cuba to open its doors to foreign investment, adopt new technologies, generate growth momentum, and effectively integrate into the international economy.

The Deputy Prime Minister highly valued the preferential mechanisms currently applied by Cuba, as well as the efforts of the Cuban Government and the Zone’s Management Board in supporting enterprises. He particularly noted their efforts to partially alleviate shortages of electricity, fuel, and input materials that impact production activities.

Deputy Prime Minister Ho Quoc Dung congratulated the Cuban Government on the positive results achieved at the Mariel Zone, highlighting the development of the ViMariel Project, a cooperation between Vietnam’s Viglacera Corporation and Cuban partners. He acknowledged the contributions of Viglacera and Thai Binh Company in investing in industrial park infrastructure and deploying projects in solar energy, detergent, and diapers, which have created tangible changes in the area and enhanced its investment appeal.

Concluding the meeting, the Deputy Prime Minister expressed his hope that the Cuban Government would continue to create favorable conditions for Vietnamese enterprises to access opportunities and implement projects on schedule. This would allow them to maximize economic efficiency and contribute effectively to Cuba's overall development.

Vietnamese firms boost renewable energy development in Cuba

During his working itinerary, Deputy Prime Minister Ho Quoc Dung visited projects operated by Vietnamese enterprises within the Mariel Special Development Zone.

At the ViMariel Industrial Park Infrastructure Development Project, invested by Viglacera Corporation, the Deputy Prime Minister acknowledged the dedicated efforts of the staff and employees during the infrastructure implementation process. The project has initially attracted numerous investors from Vietnam and abroad and is currently in negotiations with other potential partners.

ViMariel’s initial success contributes to realizing high-level cooperation agreements between the two nations and demonstrates Vietnam's desire for sustainable cooperation with Cuba. It also assists Cuba in gradually developing manufacturing industries, creating jobs for local people, and promoting socio-economic development.

The Deputy Prime Minister affirmed that Vietnam would continue to stand by its enterprises during their investment process in Cuba, while coordinating with the Cuban side to address difficulties and ensure stable and efficient operations.

Visiting Thai Binh Company at the Mariel Special Development Zone, the Deputy Prime Minister highly appreciated the Vietnamese enterprise’s journey of over 20 years in the Cuban market. He noted the critical importance of its solar power project, which meets energy demands amidst Cuba's severe power shortages. The project helps diversify the power supply with renewable energy, protects the environment, and fosters sustainable socio-economic development.

The Deputy Prime Minister stated that Vietnam has requested Cuba to create more favorable conditions to ensure Vietnamese projects are supplied with sufficient electricity, raw materials, and fuel for stable operations. This would contribute to meeting the demand for essential goods and reducing Cuba’s reliance on imports.

Concluding the visit, the Deputy Prime Minister expressed his hope that Thai Binh Company would continue to leverage its experience, maintain a spirit of innovation, overcome challenges, and expand investment cooperation in Cuba. The Government of Vietnam is committed to supporting businesses and coordinating with Cuba to resolve obstacles, creating the most favorable conditions for production and business activities.

On the same day, within the framework of his working visit to Cuba, Deputy Prime Minister Ho Quoc Dung visited and held an intimate talk with officials and staff of the Vietnamese Embassy and representatives of the Vietnamese community in Cuba.

The Deputy Prime Minister affirmed that the Party, State, and Government always pay attention to, encourage, and provide appropriate support to assist the community, businesses, and Embassy staff in remaining steadfast in their business, lives, and work in Cuba. He expressed his hope that Embassy officials and the Vietnamese community would strengthen their solidarity, mutual support, and care for one another to overcome current challenges, thereby continuing to make deeper contributions to Cuba’s socio-economic development and the Vietnam - Cuba relationship.