SCIC and Cuban Embassy Discuss A New Chapter in Viet Nam-Cuba Economic Relations

HANOI, Vietnam, July 31, 2024 - The Cuban Embassy in Viet Nam delegation met with the General Director of the State Capital Investment Corporation (SCIC) to promote economic and investment cooperation between the two parties.

Attending the meeting were Mr. Nguyen Quoc Huy, General Director of SCIC, along with representatives from SCIC's functional departments. The Cuban Embassy was represented by Mr. Joy Puentes Saldise, Chargé d'affaires of the Cuban Embassy in Vietnam, and Ms. Irmina Perojo, Economic Counselor.

Overview of the meeting

During the meeting, the Cuban Chargé d'affaires commended SCIC's proactive approach in fostering cooperation between the Cuban Embassy and SCIC. The Embassy expressed its desire to continue receiving support and cooperation in sharing experiences on equitization, state-owned enterprise reform, and experiences from SCIC-listed enterprises. To strengthen cooperation, the Cuban Chargé d'affaires proposed extending the Memorandum of Understanding (MOU) signed between SCIC and Cuba's Economic and Social Policy Implementation Committee in 2019, which would include new cooperative content suitable for the post-COVID-19 economic recovery phase.

The Cuban Embassy delegation

The Cuban Chargé d'affaires also shared information about upcoming state-level exchanges between Viet Nam and Cuba in October and November, presenting opportunities for Vietnamese businesses to explore investment and economic cooperation in Cuba. Cuba is particularly interested in cooperation in pharmaceuticals, biotechnology, healthcare services, agriculture, and information technology.

On SCIC's side, General Director Nguyen Quoc Huy appreciated the information provided by Cuba and proposed potential cooperation in sectors of Cuban interest, such as pharmaceuticals, biology, healthcare, specialty drugs, and products like agricultural products, rice, corn, and animal feed. The SCIC General Director affirmed SCIC's readiness to act as a bridge, providing support and facilitating long-term cooperation between the two sides.

Concluding the meeting, the Cuban Chargé d'affaires expressed appreciation for the long-standing fraternal relationship between Cuba and Viet Nam. Both sides will continue to support and share experiences in the process of economic reform serving national interests. Mr. Nguyen Quoc Huy extended sincere thanks to the Cuban Embassy delegation for sharing practical and useful information for SCIC's activities and cooperation prospects with the Cuban Embassy, expressing hope for regular information exchange and investment opportunity promotion towards sustainable economic development goals.

The delegations from both sides taking a commemorative photo