The meeting, held in Hanoi, focused on strengthening partnerships across multiple sectors, including investment, agriculture, and biotechnology.
Vietnamese enterprises are increasing their presence in Cuba, supported by preferential policies from the Cuban government. Notably, Thai Binh Company recently received licenses for two new investment projects. Further projects in real estate and high-tech agriculture are also in development.
In the agricultural sector, Vietnam's support for Cuba's rice, corn, and aquaculture production is proceeding on schedule. A new collaborative rice production model in Pinar del Río Province, implemented by AGRI VMA, has achieved yields double the Cuban average, significantly contributing to the nation's food security.
The two countries also agreed to facilitate pharmaceutical registration, share expertise in vaccine management and testing, and expand cooperation in biotechnology. To further these goals, Vietnamese partners and BioCubaFarma signed an agreement to establish a joint venture for pharmaceuticals and biotechnology in Vietnam.
Additionally, the Vietnam Green Economy Institute and Cuba's Labiofarm will collaborate on researching and producing biotechnology products for agriculture and natural medicine.
Discussions were also held on implementing a solar energy complex project in Cuba. Viettel Group has conducted field surveys and is developing a detailed plan to launch the solar power project by the end of 2025.
To address obstacles and strengthen cooperation, Deputy Minister of Construction Nguyen Tuong Van stated that the Intergovernmental Committee will recommend that both governments, especially Cuba's, resolve existing issues and create a more open and favorable investment environment for Vietnamese enterprises. Upcoming projects include a rice development project by Thai Binh Agri in Granma Province, scheduled for late 2025, and a biotechnology joint venture in Vietnam, which is expected to be realized soon.
At this session, a number of important cooperation agreements and documents will also be signed, such as an intergovernmental agreement to promote rice production and gradually ensure Cuba’s food security from 2025 to 2027 and a memorandum of understanding on archival management. Moreover, another MoU on establishing a biotechnology joint venture was signed between Vietnam's Hoa Sen Investment Group and Cuba's Labiofarm.
