Viglacera will produce sanitary wares and ceramic tiles in Cuba

On 15/10/2014, within the framework of the Closing ceremony of the 32nd Vietnam – Cuba Intergovernmental Committee meeting, Viglacera and Cuban Building Materials Group signed a memorandum of understanding (MOU) on the joint venture establishment with two factories producing sanitary ware and ceramic. The two factories are both under the Cuban Ministry of Construction, located in San Jose and Santa Cruz.

General Director of Viglacera Corporation Nguyen Anh Tuan, and General Director of the construction enterprise group (Geicon) Cuba Cesar Revuelta Mayolina signed an MOU on the establishment of a joint venture producing sanitary ware, ceramic tiles at the Closing Ceremony of 32^nd Intergovernmental Committee Vietnam – Cuba meeting, under witnesses of the Minister of Construction Trinh Dinh Dung, Vietnam and the Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz Cuba

According to the MOU, Viglacera Corporation and Cuban Building Materials Group will form a joint venture on the basis of capital and technology contribution, and at the same time bring Viglacera specialists to the two factories producing sanitary wares and ceramic tiles.

It is expected that both parties will start required procedures for the joint venture establishment in 2015 and the factories will be officially in operation in 2016. This is an important move of Viglacera in its foreign investment, especially in potential markets such as Cuba - the country currently in process of open integration, which is clearly demonstrated by its recent issuance of the new Investment Law.

Before signing the contract, in 2014, Viglacera has sent two teams of technical experts to support Cuban building material factories. In these short trips, Viglacera helped bring positive effects of product quality and production capacity enhancement to the factories. In addition, the Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca Diaz Cuban, Co-Chairman of the Cuba – Vietnam Cooperation Division has visited and worked at Viglacera Cooperation and wished to tighten relationships and accelerate cooperation between two parties.

The cooperation between Viglacera Cooperation and Cuban Building Material Group has been very positive and effective, especially with the support of the ministries and departments in Cuba and Vietnam.