(MPI) - Deputy Minister of Planning and Investment Tran Duy Dong hosted a reception for a working delegation from Cuba’s Mariel Special Development Zone (ZED Mariel) led by Yanet Vazquez Valdes Deputy Director of the ZED Mariel Office in Hanoi on May 5. The two sides exchanged experience on foreign investment attraction and development of industrial parks and economic zones in Vietnam.

At the event. Photo: MPI

Deputy Minister Dong noted with satisfaction that the traditional and special friendship between Vietnam and Cuba has well developed over the past time.

He added, the Ministry of Planning and Investment (MPI) stands ready to share experiences in FDI attraction and development of new models of industrial parks and economic zones with Cuba.

For her part, Yanet said the ZED Mariel wishes Vietnam further expand investment in some potential areas such as industrial parks infrastructure, agriculture and renewable energy.

Noting similarities and closeness between Vietnam and Cuba in building a path towards socialism, Yanet hoped to receive the minstry’s experience in developing the ZED Mariel model.

ZED Mariel has implemented a number of policies and incentives to facilitate renewable energy development and reduce fossil fuels to protect environment, she continued. The zone is also working to remove difficulties facing foreign businesses and create all possible conditions for investors to invest in the market.

On this occasion, the two sides highlighted socio-economic situation of each country and shared experiences on FDI attraction and development of new growth models.

According to the Ministry of Planning and Investment’s Foreign Investment Agency (FIA), Vietnam has five valid projects worth 82.07 million USD to Cuba. Cuba currently has four projects in Vietnam with the total registered investment capital of 7 million USD, mainly in construction and import-export business.

Bao Linh

Ministry of Planning and Investment