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Foreign Investment in Cuba

Vietnam’s Thai Binh Corporation Holds a Trade Forum in Havana

Thai Binh forum in Havana. Photo: Twitter - @Camara_Comercio

Vietnam’s Thai Binh Corporation held a trade forum in Havana, attended by approximately 130 State and private businesses from various sectors of Cuba.

The Thai Binh Investment and Trading Corporation is the enterprise with the most investment projects in Cuba. Last April, Thai Binh launched two projects in Cuba, Suchel TBV S.A., a laundry detergent factory, and the TBD solar park in the Mariel Special Development Zone.

Cuba’s president of the Cuban Chamber of Commerce, Antonio Carricarte, said the event offered a chance to share experiences and explore economic cooperation opportunities between the two countries.

The forum occurred in the context of Cuba’s focus on expanding the micro, small and medium-sized enterprises (MSMEs). Over 9,000 of these “new-style economic units have been approved,” he said, adding that the Vietnamese experience in developing the private sector is very valuable and consistent with Cuba’s development model.

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Tran Ngoc Thuan, Chairman of the Board and General Director of Thai Binh, has invested in Cuba for 25 years. He reaffirmed the company’s commitment to Cuba’s sustainable development model by maintaining cooperation with its government, organizations, and businesses, and implementing more projects on the Island.

Representatives of the Chamber of Commerce and the Vietnamese answered questions on issues such as construction material supply, food—agriculture, commodities, raw materials for production, and marketing strategies.

Vietnam and Cuba have shared strong links since the 1960s. Since that time, both governments have sought to increase ties. Vietnam is Cuba’s second largest Asian trade partner.

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