General Director of the ZEDM’s management office Ana Teresa Igarza (R) presents documents related to ViMariel’s formation to Nguyen Anh Tuan, chief representative of Viglacera in Cuba (Source: VNA)Havana (VNA) - ViMariel S.A company - the fully foreign-owned firm licensed to operate in the Mariel SpecialEconomic Development Zone Mariel (ZEDM) of Cuba, began operation onJuly 24.
The company, invested by the Vietnam Glass andCeramics for Construction Corporation (Viglacera), was establishedon February 28, 2018.
ViMariel S.A has the right to use 156hectares in the ZEDM to build an industrial park withfull road, telecommunications, water and electricity infrastructure to serveindustrial establishments. It will take ViMariel S.A five years to constructthe industrial park from 2019. The firm has a 50 year land lease.
At the launching ceremony, General Director of the ZEDM’s management office AnaTeresa Igarza presented documents related to ViMariel’s formation to Nguyen AnhTuan, chief representative of Viglacera in Cuba.
Vice General Director of Viglacera Tran Ngoc Anh thanked the Cuban governmentfor its help to Viglacera in the project, and committed to completing theproject on schedule, contributing to attracting more investors to the zone.
Vietnamese Ambassador to Cuba Nguyen Trung Thanh affirmed ViMariel is a symbolof the commitment of Viglacera and Vietnam to contributing to updating Cuba’ssocio-economic model.
The project is a result of Vietnamese Party General Secretary Nguyen Phu Trong’s Statevisit to Cuba in March 2018.
In an interview with Havana-based Vietnam News Agency’s correspondents, Igarza appreciatedVietnam’s experience in developing industrial park infrastructure, stressingthat Cuba hopes ViMariel S.A will help attract foreign investors to the ZEDM -an important resource in the context that Cuba is changing its economicstructure.
Chief representative of Viglacera in Cuba Nguyen Anh Tuan said ViMariel S.A plansto lure investment in high-technology, production of construction materials,the electronic industry and others.
In 2016, Viglacera entered into a joint venturepartnership with Cuban developer Geicon to manufacture building material in theCaribbean island nation, of which, Viglacera is responsiblefor upgrading two existing ceramics and sanitary ware plants and investingin two more, four years after the joint venture is operational.-VNA
VNA
