President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona. (Photo: VNA)

Corona highlighted the growing variety of Vietnamese products in Cuba, extending beyond traditional staples like rice. This diversification, driven by Vietnam’s dynamic economic growth, offers substantial opportunities for Cuba.

Vietnamese enterprises, both joint ventures and wholly-owned entities, are not only exporting goods but also investing in Cuban production, spanning light manufacturing, hygiene products, and construction. These goods, produced in Cuba or imported from Vietnam, boast high quality and competitive prices.

Strategic Vietnamese investments are also transforming Cuba’s agriculture. Efforts in fertiliser and animal feed production are bolstering Cuba’s push to boost food output, particularly in poultry, pork, and eggs. Renewable energy emerges as another key area, aligning with Cuba’s long-term development goals and opening doors for further collaboration.

He hailed Vietnam as Cuba’s second-largest trading partner in Asia and its top investor, spotlighting its foothold in the Mariel Special Development Zone via Viglacera. This zone, he noted, is set to become a pivotal hub for Vietnamese investment in the years ahead.

Vietnamese Ambassador to Cuba Le Quang Long (second from left) visits a rice field under a pilot project between a Vietnamese firm and Cuban farmers. (Photo: VNA)

On economic prospects, he pointed to Cuba’s National Development Plan and Economic Adjustment Programme, which are unlocking new opportunities for Vietnamese businesses.

Vietnam’s expertise in pork, poultry, and egg production promises to uplift Cuba’s agricultural sector, while its prowess in rice and coffee cultivation, evidenced by a nascent rice project in Cuba, offers additional growth potential. Industrial ties are equally promising, with opportunities in steel, mechanical engineering, and electric transport. Cuba’s plan to boost renewable energy storage by 200 MW further underscores the scope for diverse partnerships.

In return, Cuba’s advanced healthcare, pharmaceutical, and biotechnology sectors offer Vietnam valuable expertise. Both governments are also committed to advancing high-tech products through scientific research, innovation and digital transformation.

A unique advantage, Corona noted, is that goods made in Cuba with Vietnamese involvement can qualify as Cuban-origin products, gaining preferential tariffs in over 20 countries under Cuba’s trade agreements. This boosts Vietnamese firms’ global market access.

Marking his first trip to Vietnam as CCC President in a decade, Corona expected to forge new economic ties and deepen collaboration. His delegation will engage with Vietnamese business associations in agriculture, mechanical engineering, and other fields to foster direct links. A broader goal is revitalising the Vietnam-Cuba Joint Committee to reflect government agreements fully, enhance business synergy, and help enterprises seize emerging opportunities./.