On the afternoon of September 16 (local time), within the framework of the trip to attend the G77 Summit and China, visit and work in Cuba, Deputy Prime Minister Tran Hong Ha and the delegation visited ViMariel industrial park, Mariel Special Development Zone (Artemisa province). This is the first and only industrial park invested by a Vietnamese enterprise in Cuba up to date.
Deputy Prime Minister Tran Hong Ha discussed with leaders of the Mariel Special Development Zone and the developer of ViMariel Industrial Park on the direction of developing a green economic zone, and solutions to overcome difficulties related to raw materials, fuel, production materials, transportation, payment, etc…. (Photo: Bao Chinh Phu)
ViMariel is also Cuba’s first concession project with a limited duration for a 100% foreign-owned enterprise, with a scale of 156 hectares, less than 50 km from La Habana and is developed to become the largest industrial zone in the “Island of Freedom”.
Established in November 2013, the Mariel Special Development Zone is a project with a long-term vision and is part of the process of updating the Cuban economic model. This is the first and only special economic zone on this island nation up to now with many preferential policies, support on tax rates, administrative procedures, land, energy…, and infrastructure which is invested synchronously, modernly with high connectivity.
The Mariel Special Development Zone is Cuba’s “star” project in attracting foreign investment. Enterprises from 21 countries are currently investing in this strategic economic area, notably Mexico, Spain, Brazil, Belgium, the Netherlands, Italy and Vietnam. The Special Zone’s pillar sectors focus on logistics services, biotechnology, biopharmaceutical industry and advanced manufacturing.
Ms. Ana Teresa Igarza Martinez, General Director of Mariel Development Zone, said that currently, the Special Zone has 64 approved investment projects with a total investment of 3.3 billion USD, of which 44 projects are in operation. Vietnam is currently the second country in terms of the number of investment projects in the Mariel Special Development Zone. Along with the existing policies, the Special Zone is building more attractive mechanisms for foreign investors; at the same time, there are solutions to overcome difficulties in raw materials, fuel, production materials, transportation, payment…
Notably, the Mariel Special Development Zone also received the support for investment and trade promotion activities from the Ministry of Planning and Investment of Vietnam.
Deputy Prime Minister Tran Hong Ha listened to an introduction about ViMariel industrial park (Photo: Bao Chinh Phu)
At the meeting, ViMariel industrial park’s developer reported on the situation of infrastructure construction, attracting investment projects into the industrial park; recommended solutions to help enterprises operate more smoothly.
Assessing the initial results achieved by the Mariel Special Development Zone, the Deputy Prime Minister said that this is a potential economic model, a place to “incubate” and test new, specific policies, before widely expanding them, thereby creating stronger motivation for the Cuban economy to overcome current difficulties and challenges.
“The Mariel Special Development Zone plays an important role in attracting projects that produce raw materials, materials, machinery… to gradually restore Cuba’s important economic sectors such as agriculture, construction,…” , etc.” , the Deputy Prime Minister said and wished the Special Zone would become a green economic zone with exemplary planning on trees, water surface, renewable energy infrastructure systems, transportation, logistics, accommodation for workers and other accompanying cultural and social institutions.
The Deputy Prime Minister also requested that the developer of ViMariel industrial park attract capable and reputable enterprises to carry out feasible investment projects. “This is the image of the economic, investment and trade cooperation between Vietnam and Cuba,” said the Deputy Prime Minister.