Published On: Wed, Jan 28th, 2015

Vietnamese company to invest in special development zone in Cuba

Port MarielHAVANA, Cuba – Vietnam’s Thai Binh Investment Trading Corp expects to build plants to produce detergent and disposable diapers at the special development zone located at the Port of Mariel, in western Cuba.

Thai Binh’s representative in Cuba, Tran Thien Minh, told the PL news agency earlier this year about plans for the year and that the new factories will further strengthen bilateral ties between the two countries.

Vietnam is among 30 countries proposing investment projects for the Cuban special economic zone.

"We have been in the Cuban market since 1998," said Tran Thien and recalled that the Vietnamese company was one of the first entities from that country to establish commercial relations with Caribbean nations.

“In the beginning we exported textiles, shoes, perfumes and foods, but later we added construction materials, furniture, stereos and home appliances,” said the executive.

Thai Binh sold tiles worth more than $12 million in Cuba in 2014. It is its tiles that represent its largest sales in Cuba, according to the company.

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