Promoting Vietnam-Cuba economic relations

Nguyen Lan Huong, Chairwoman of Hanoi’s Vietnam Fatherland Front, presents a commemorative gift to ViMariel. (Photo: hanoimoi.com.vn)

During discussions, Nguyen Ngoc Anh, Deputy Chairman of the company’s Board of Directors, explained that ViMariel is the first and only foreign management investor licensed to operate in the Mariel Development Zone. They have been granted rights to a land plot for building, managing and operating ViMariel Industrial Park, covering 156.24 hectares with a total investment of USD41.3 million. Infrastructure for the northern subdivision (86.24 hectares) was completed at the end of 2022, while infrastructure for the southern subdivision (70 hectares) is expected to finish in 2024.

Currently, 60 hectares of cleared land are available for lease, and five investors are operating within the industrial park with a total investment exceeding USD70 million. Two of these investors are from Vietnam, prioritizing agriculture-related industries (fertilizer production, animal feed, rice and corn) to support the Cuban government in addressing food security.

Following directives from Party General Secretary and President To Lam after his state visit to Cuba in September 2024, ViMariel is supporting AGRI VMA, a Vietnamese enterprise producing animal feed in Cuba, to launch a rice-growing project in Cuba. This project aligns with an agreement between the Cuban Ministry of Agriculture and Vietnam’s Ministry of Agriculture and Rural Development. ViMariel is now promoting investment in the ViMariel Industrial Park, mainly targeting secondary investors from Asia, especially those from Vietnam and China, focusing on urgent industries such as agriculture, livestock, fisheries and consumer goods manufacturing.

During the meeting, Ms. Huong provided updates on Hanoi’s socioeconomic situation and praised ViMariel's efforts in contributing to Cuba’s economic development and in elevating Vietnam-Cuba economic relations to match the strength of their political ties, creating stable employment opportunities for Cubans. She expressed hope that the company will continue to uphold national pride, solidarity and creativity, overcome challenges, expand investments and support Cuba’s development, serving as a vital bridge in Vietnam-Cuba relations./.