Connecting Vietnamese businesses in Cuba to overcome challenges and take advantage of opportunities to expand cooperation

Vietnamese Ambassador to Cuba Le Quang Long chaired a meeting with businesses in the first quarter of 2025.

The event took place at the headquarters of the Vietnamese Embassy in Cuba under the chairmanship of Ambassador Le Quang Long, aiming to assess the operational situation, remove difficulties and promote bilateral economic cooperation.

In his opening speech, Ambassador Le Quang Long emphasized: "The Embassy always attaches importance to its role as a bridge with the business community. We are committed to accompanying and supporting Vietnamese businesses to make the most of the cooperation potential between the two countries."

At the meeting, business representatives frankly shared difficulties in production and business in Cuba, and proposed many practical solutions to resolve difficulties, overcome challenges, strengthen connections, share information, promote cooperation and expand investment.

Ambassador Le Quang Long acknowledged the recommendations and proposals of businesses and will coordinate to handle them soon.

In the context of Cuba facing challenges from international embargoes and differences in mechanisms, Vietnamese enterprises still affirm their position with 7 typical projects in the ZED Mariel Special Economic Zone, including: industrial infrastructure, construction materials, solar energy, diaper production, animal feed and rice. Notably, Vietnam is currently the largest investor in the Asia-Oceania region in Cuba, contributing to the supply of essential goods and creating jobs for local people.

According to Ambassador Le Quang Long, many Vietnamese enterprises are interested in expanding investment in the fields of agriculture, consumer goods production and renewable energy - which coincides with Cuba's priorities in the "Socio-Economic Development Strategy to 2030". Cuba also affirmed that it will provide special incentives to attract Vietnamese enterprises, especially in projects that ensure food security and aim for export.

In recent times, the relationship between the two countries has been continuously strengthened through high-level visits, notably the visit to Cuba by General Secretary and President To Lam in September 2024. At the 41st meeting of the Intergovernmental Committee (April 2024), the two sides agreed to implement an economic agenda covering nearly 20 areas, from trade, agriculture to health and biotechnology.

To realize the potential, the Embassy called on businesses of both countries to take advantage of the Vietnam-Cuba Trade Agreement (effective from April 2020), step up promotion through fairs, investment forums and local connections. "With the determination of the leaders and people of the two countries, I believe that economic cooperation will continue to develop commensurate with the special political relationship between Vietnam and Cuba," Ambassador Le Quang Long affirmed.

Source: https://baoquocte.vn/gan-ket-doanh-nghiep-viet-tai-cua-de-vuot-qua-thach-thuc-tan-dung-co-hoi-mo-rong-hop-tac-309357.html