Vietnamese Company Signs Agricultural Cooperation Agreement Worth Over 50 Million USD in Cuba
A Vietnamese company has signed an agricultural cooperation agreement worth over 50 million USD in Cuba, expected to become an effective cooperation model between the two countries.
Latest
 |
| Mr. Luis Alberto Hernández Tejeda, General Director of Alquizar Company (right), and Mr. Nguyễn Khắc Hoàng, General Director of Hoang Gia Viet Company, exchange cooperation documents under the witness of Vietnamese Ambassador to Cuba Lê Quang Long and Cuban Deputy Minister of Agriculture Telce Abdel González Morera. (Source: Vietnamese Embassy in Cuba) |
In the framework of promoting bilateral economic cooperation, on December 5, at the headquarters of the Cuban Ministry of Agriculture, Hoang Gia Viet Food, JSC officially signed the International Economic Joint Venture Agreement for Agricultural Production with Alquizar Agricultural Company, part of the Artemisa Agroforestry Business Group of Cuba.
The signing ceremony was witnessed by Vietnamese Ambassador to Cuba Lê Quang Long, Cuban Deputy Minister of Agriculture Telce Abdel González Morera, along with representatives from Artemisa province and leaders of related units.
This event is not merely a commercial agreement but also a testament to the proactive economic diplomacy efforts of the Vietnamese Embassy in Cuba.
Recently, the embassy has played a crucial role as a bridge, actively supporting, connecting, and encouraging the Vietnamese business community to explore and boldly invest in the Cuban market, especially in priority areas agreed upon by high-level leaders of both countries, such as agriculture, renewable energy, biotechnology, and pharmaceuticals. This project is a concrete result of that strategic cooperation direction.
 |
| This event is not merely a commercial agreement but also a testament to the proactive economic diplomacy efforts of the Vietnamese Embassy in Cuba. (Source: Vietnamese Embassy in Cuba) |
According to the signed agreement, the cooperation project has a duration of 25 years and can be extended, operating under the legal protection of Cuba's Foreign Investment Law No. 118/2014. The primary goal is to comprehensively develop the value chain from production, processing to commercialization of cashew (marañón), combined with other short-term crops to serve the domestic Cuban market.
Cuba will contribute land, infrastructure, and local production experience. As the Partner, Hoang Gia Viet Company will provide investment capital, technology, materials, and market connection support. A notable financial commitment outlined in the contract is the funding of up to 50.56 million USD from Vietnam to supply machinery and equipment, including 29.1 million USD for technology equipment and 21.45 million USD for transportation means serving agricultural production.
Mr. Luis Alberto Hernández Tejeda, General Director of Alquizar Company, and Mr. Nguyễn Khắc Hoàng, General Director of Hoang Gia Viet Company, represented both parties in signing this important cooperation document.
The project is expected to become an effective cooperation model, contributing to technology transfer, enhancing productivity, and diversifying agricultural production in Artemisa province, while also strengthening the traditional friendship and comprehensive cooperation between Vietnam and Cuba. The success of this agreement also opens up opportunities and encourages more Vietnamese enterprises to invest in the promising Cuban market.
