Party and State top leader visits Cuba's first free trade zone

During his State visit to Cuba, Party General Secretary  and State President To Lam visited the Mariel Special Development Zone (ZEDM) on September 26.

First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz Canel Bermudez also joined the activity.

Covering an area of about 465 sq.km, ZEDM is Cuba's first free trade and export processing zone, located near Mariel port.

ZEDM Director Ana Teresa Igarza Martínez highlighted Vietnam's role as the second-largest investor in the zone, with projects like the ViMariel Industrial Park (the first Vietnamese-invested economic zone in Cuba).

The Cuban top leader praised Vietnam's participation and underlined the strong friendship between the two nations. He expressed hope for continued success in the economic partnership between the two countries.

Mr. Lam, meanwhile, commended the ZEDM as a model for testing new policies and boosting Cuba's economy. He believed this approach will generate stronger momentum for Cuba's economy, helping it overcome current challenges.

The Vietnamese leader also reaffirmed Vietnam's commitment to supporting Cuba's development.

The ZEDM offers investment opportunities in various sectors like biotechnology, pharmaceutical research and production, packaging, renewable energy, agriculture, food industry, general industry, information technology, communications, tourism, real estate, and infrastructure development. Products from these projects can be sold domestically and exported to the region.

With its modern infrastructure, the ZEDM is an attractive destination for international investors, including those from Vietnam. It provides a gateway to growing Latin American, Caribbean, and South American markets.

The visit concluded with the announcement of investment licenses for two Vietnamese companies.