President of Cuba Miguel Díaz-Canel (R) receives Thai Binh Corporation's President Tran Thanh Tu. (Photo: VNA)

Receiving the corporation’s President Tran Thanh Tu in Havana, he spoke highly of the specific directions and innovative ideas proposed by this company, affirming the willingness to strengthen the Cuba-Vietnam relations, as well as cooperation in mutually beneficial development areas.

Thai Binh has involved in the Cuban market since 1998 and expanded its operations in Latin America and the Caribbean. Through many ups and downs, it has gradually established itself as a leading Vietnamese business in Cuba. With perseverance in building and developing its presence, many types of products of the Vietnamese origin have now won preference from Cuban consumers.

Since 2016, the company's annual revenue has reached approximately 100 million USD, accounting for nearly 50% of the total export turnover from Vietnam to Cuba. It is offering more than 10,000 product codes across 12 different sectors, including electronics, household goods, apparel, and construction materials.

In addition, the company plans to increase the capacity of its 23 MW Solar Power Park, which was completed in April 2023, to 1,000 MW by 2030, and expand investment in sectors such as instant noodle production, the development of high-tech agricultural zones, and luxury hotel, golf course, and resort projects.

Currently, Thai Binh has the largest number of projects in key sectors that support Cuba’s socio-economic development. It is also a pioneer in the application of new technologies, and playing an important role in making Vietnam the largest Asian investor in this Caribbean island nation.