Deputy Prime Minister Commends Viglacera (VGC) Project for Helping Cuba Attract International Investors

This is the first time-limited concession project in Cuba granted to a 100% foreign-owned enterprise.

On the morning of December 3 (local time), as part of his visit and working trip to Cuba, Deputy Prime Minister Hồ Quốc Dũng and the delegation visited the Mariel Special Economic Zone.

The Mariel Special Economic Zone, established in November 2013, is a project with a long-term vision and is part of Cuba’s process of updating its economic model.

This is the first and only special economic zone of the island nation, featuring numerous preferential policies on taxation, administrative procedures, land, energy, etc., along with a modern and synchronized infrastructure system. Currently, the zone hosts more than 60 projects, including 52 foreign-invested projects, of which 9 are from Vietnam.

The Deputy Prime Minister congratulated and highly appreciated the Cuban Government for the positive results achieved in the implementation of projects in the Mariel Special Economic Zone, especially the ViMariel project – the result of cooperation between Viglacera Group (VGC) of Vietnam and Cuban partners.

During his visit to the ViMariel Industrial Park Infrastructure Development Project invested by Viglacera Corporation, the Deputy Prime Minister expressed his pleasure at witnessing the development of this project.

The Deputy Prime Minister commended the collective of officers and employees of ViMariel Company for their efforts in overcoming difficulties to complete the investment and construction of infrastructure. At the initial stage, the project has attracted a number of Vietnamese and international investors and is currently negotiating with many potential partners.

According to the Deputy Prime Minister, the success of ViMariel contributes to the realization of high-level cooperation agreements between the two countries; demonstrating Vietnam’s determination to promote effective and sustainable cooperation with Cuba. At the same time, the project has supported Cuba in developing production, creating more jobs, and promoting socio-economic development.

To facilitate business operations, the Deputy Prime Minister proposed that the Management Board of the Mariel Special Economic Zone and relevant Cuban agencies continue to support the unit in effectively operating the project. This will help increase the occupancy rate of infrastructure tenants, thereby promoting comprehensive Vietnam–Cuba cooperation.

The ViMariel Industrial Park has a total area of 256 hectares, located within the Mariel Special Economic Zone and less than 50 km from the capital, La Habana. This is the first time-limited concession project in Cuba granted to a 100% foreign-owned enterprise.

Leveraging its experience in industrial park infrastructure and real estate investment in Vietnam, Viglacera has implemented investment in ViMariel in a synchronized and modern manner. The enterprise has created opportunities for investors to build factories and carry out production and business activities.

Over many years of operation, ViMariel has attracted enterprises from various sectors such as food production, consumer goods, building materials, electrical and electronics, mechanical engineering, agriculture, pharmaceuticals, and medical equipment.

According to nguoiquansat.vn