Cuba has plenty of room for Vietnamese businesses: VCCI
While addressing a conference on April 19 on promoting trade and investment in Cuba, VCCI Vice President Doan Duy Khuong confirmed that the organisation would work closely with the Cuban embassy and Cuba’s trade promotion agencies to support the two countries’ enterprises.
He anticipated that economic, trade and investment cooperation between Vietnam and Cuba would see strong development in the time ahead.
Cuban Ambassador to Vietnam Herminio Lopez Diaz agreed that the bilateral trade relationship was not commensurate with the two countries’ fine political ties and should be upgraded.
He added that dialogue was necessary to foster trade relations and pledged that the Cuban side would facilitate investment and trade cooperation between the two countries.
Total trade between Vietnam and Cuba reached US$207.5 million in 2014, increasing to US$235 million in 2015 and nearly US$250 million last year.
Vietnam’s major exports to Cuba are rice, coal, chemicals, garments, computers while the country’s main imports from Cuba are drugs and functional foods.
According to the Ministry of Planning and Investment, Cuba has only one investment project in Vietnam with registered capital of US$6.6 billion while Vietnam has invested in several projects in Cuba.