Cuba – new investment destination of Vietnamese firms

Cuba has emerged as the third biggest investment destination of Vietnamese enterprises after Laos and Cambodia.

According to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment, Vietnamese firms registered to invest 19.9 million USD in Cuba in the first four months of 2018 despite geographical distance.

This move is expected to open a new door with numerous business cooperation opportunities for the two countries.

The FIA revealed some investment projects of Vietnam in the new market including an oil and gas exploration project of PetroVietnam Exploration Production Corporation (PVEP) and diaper and washing powder production projects at Mariel Special Economic Development Zone of Thai Binh Company.

Several years ago, Cuba had been forecast to be an emerging market after Laos, Cambodia and Myanmar. There is plenty of room in this market and the Cuban government has repeatedly called on Vietnamese enterprises to make investment in the nation.

The opportunities have become more obvious after the visit to Cuba by Secretary General of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong in March 2018 with a number of cooperation agreements signed.

Particularly, Vietnam’s Ministry of Industry and Trade and Cuba’s Ministry of Foreign Trade and Investment inked an agreement concluding the official negotiation between the two countries on a new bilateral free trade agreement (FTA).

The two sides pledged to conduct legal revisions to bring the FTA into force as soon as possible to support trade growth and attract investment.

Experts said these are important moves to boost Vietnam-Cuba trade and investment relations.

According to the FIA, Vietnamese firms poured 153.6 million USD abroad in the first four months of 2018. The figure included nearly 129 million USD in newly-registered capital and 24.6 million USD in increased capital.

Vietnam injected 80.12 million USD in Laos, making up 52.2 percent of the total investment capital, and 25.9 million USD in Cambodia in the January-April period.

  • Published in Cuba

Cuba supports investments in the sea in search of metals

Juan Ruiz Quintana, Director General of Mining, of the Ministry of Energy and Mines, today supported a proposal by the 70th anniversary regular Council meeting of the Interoceanmetal Joint Organization to attract investment in the oceans in search of metals.

We support this initiative and urge the countries that make up the organization to update the legal framework for its management in order to undertake it, suggested the representative of the Island in one of his speeches at the meeting, which is being held in Burgas, a city on the Bulgarian coast of the Black Sea.

According to sources from the Ministry of Energy and Mines from the venue of the event, the Cuban representative indicated in this regard the need to take into account the Convention on the Sea, also known as the Law of the Sea, and the legislation of each member of Interoceanmetal, not only in terms of law, but also environmental requirements.

The deliberations of the meeting in plenary will be held until Thursday to analyze the progress of the mining project to extract cobalt (Co), copper (Cu), nickel (Ni), zinc (Zn) and manganese (Mn) from the marine nodules.

Such a project is international in nature because it is sponsored by Russia, Bulgaria, Poland, the Czech Republic, Slovakia and Cuba.

Mineral resources are finite and this reality has caused many countries to look to the sea in order to find sources for obtaining metals, as was once the case for oil production, according to specialists in the sector.

They considered that this will be the future secure source for the continued development of information technology and electric cars, based on the mineral resources deposited on the ocean floor.

With this perspective in mind, the plenary sessions of the Interoceanic Council have been held in the Bulgarian city of Burgas, which advocates the granting of a geological research concession in the zone located between the Clarion and Clipperton fractures in the Western Pacific, southwest of Baja California, with potentialities in polymetallic marine nodules.

On the last day of its sessions, a protocol will be signed, setting out the action plan until its meeting in November, when the date of the next geological campaign, which precedes the mining operation, will be evaluated.

One day later, Interoceametal representatives will attend the European Mining Business Forum to be held at Hotel Mariela in Sofia, which will be attended by European mining authorities and their main companies.

A conference by Dr. Tomasz Abramowski, CEO of Interoceanmetal, based in the port city of Szczecin, Poland, is also planned.

Interoceanmetal has a project in which Cuban entities of the business groups CUBANÍQUEL and Geominero Salinero (GEOMINSAL) play an important role in the metallurgical technologies for its processing.

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Cubans and North Americans Dance together in Washington

The performances of Cuban artists at the Arts From Cuba Festival, which is taking place at the John F. Kennedy Center, in Washington, have been received with a lot of enthusiasm and joy by the large audience that has filled its installations these days.

Cubans and North Americans dance and enjoy together to the beat of “son”, salsa, bolero and other musical genres, sung and performed by outstanding soloists and bands that have performed in the biggest show of its kind in the United States, thus confirmed Alexis Triana, communication director of the Ministry of Culture.

The journalist and cultural promoter is part of the Cuban delegation that is made up of 400 artists from different manifestations, half of them living on the island and the rest settled in other countries and takes part at the event that kicked off on May 8 and will run until next June 3.

In his report from the US capital, Triana invites to see, listen to and feel the joy, with which Cubans and North Americans have welcomed each of the artistic performances of the representatives of the island, via live images, filmed at the John F. Kennedy Center.

The audience's presence is constant, he specifies, to the extent that there’s barely any space for the press. This party reminds me the chorus of a conga from Sancti Spiritus that says “You who told me that Yayabo would not go out anymore, Yayabo is in the street / with its last detail and its unrivalled rhythm / Ah, ah, ah, Yayabo has already left.

Translated by Jorge Mesa Benjamin / Cubasi Translation Staff

  • Published in Culture

Cuban FM Bruno Rodriguez in Europe

This Monday, May 14, the Cuban Minister of Foreign Affairs Bruno Rodríguez started a visit to Europe that includes:

* Oficial talks in Belgium.
* Participating at European Union Joint Council meeting.
* Presenting National Report of Cuba at Universal Human Rights Periodic Review in Geneva.

  • Published in Cuba

Health ministry, Governors sign MoU on Cuban doctors

The Health ministry has signed an MoU with the Council of Governors on the hiring of Cuban doctors.

At the ceremony on Monday, Cabinet Secretary Sicily Kariuki noted that specialised services are important for Kenyans.

"We are ready to support this initiative by Governors," she said after signing the agreement alongside CoG vice chair Anne Waiguru (Kirinyaga).

Waiguru said the process that surrounded the deal was "very consultative and inclusive" and that counties will receive the specialists they need most.

"The journey towards universal healthcare is a long term undertaking that requires regular consultation and coordination between the two levels of government and all actors," she noted.

The national government and counties will share the costs of having the 100 Cuban doctors who will arrive later this month.

A memorandum signed by Kenya and Cuba shows each county will get at least two.

The doctors will work hand-in-hand with their Kenyan counterparts to roll out a range of medical services that are expected to radically change how a large number of life-threatening diseases are managed.

Universal healthcare is one of four pillars that President Uhuru Kenyatta has prioritised in his second term. The others are food security, manufacturing and affordable housing.

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MONGOLIAN AMBASSADOR VISITS CUBAN NATIONAL JUDO FEDERATION

Ulaanbaatar/MONTSAME/ Ts.Batbayar, Mongolia’s Ambassador to the Republic of Cuba, met with Rafael Manso Reyes, President of the Cuban National Judo Federation, on May 11, 2018.

Ambassador Batbayar visited the ‘Cerro Pelado’ sports complex, where athletes of the Cuban National team are trained.

Mr.Rafael Manso Reyes, President of the Cuban National Judo Federation, and Mrs.Marta Lidia Ruiz, Head of the Foreign Relations Department of the National Institute of Sport, Physical Education, and Recreation of Cuba, welcomed the Ambassador Ts.Batbayar at the National Institute and exchanged views on further cooperation.

Both sides agreed to work together to organize joint training of the Mongolian and Cuban National judo teams in near future, to exchange athletes and coaches and to send athletes to the competitions organized in the countries.

  • Published in Sports

ALBA-TCP Condemns Monroe Doctrine and Interventionism in the Region

The Bolivarian Alliance for the Peoples of Our Americas-Peoples' Trade Treaty (ALBA-TCP) condemned here the attempts by the United States to revitalize the Monroe Doctrine to promote hegemonism in the region.

The integrationist bloc established that position at a meeting of foreign ministers and heads of delegations from its member countries who are attending the 37th Session of the Economic Commission for Latin America and the Caribbean (ECLAC), a forum that ended on Friday in this capital, Cuban Deputy Foreign Minister Rogelio Sierra told reporters.

According to the diplomat, the ALBA-TCP meeting also condemned the actions to destabilize some governments in Latin America, and reiterated its support for multilateralism and the peoples' right to self-determination.

It was a meeting of great confraternity and coincidence between the parties, said Sierra, who accompanied Palestinian President Mahmoud Abbas in a tribute to Cuban National Hero José Martí, in the framework of his official visit to the Caribbean island.

  • Published in Cuba

Cuban President Checks Key Programs for the Country's Development

During the last few days, Cuban President Miguel Diaz-Canel checked the progress of programs related to agriculture, livestock, industry and renewable energy sources, Granma newspaper published today.

According to the newspaper with largest circulation in the country, the review by the newly elected president took place in several meetings, in which ministers and deputy ministers of the sectors evaluated participated.


Diaz-Canel described those areas of the economy as fundamental for the sustainable development of the island.

The Minister of Agriculture, Gustavo Rodriguez, evaluated the results of programs such as rice, grains, tobacco, coffee, cocoa, beekeeping, fruit and vegetables, among others.

Rodriguez mentioned advances in sectors such as rice production, beekeeping and increased income from tobacco exports, and difficulties with coffee and cocoa, which show slowness, while citrus fruits do not meet the demand of the population.

According to the Minister of Agriculture, there is an urgent need to improve yield, which means that a greater amount of arable land is under irrigation.

Regarding the development of the Food Industry, the minister of the sector, Maria del Carmen Concepcion, exposed actions related to the gradual restitution of products, increase of exports and decrease of imports.

The minister mentioned as important tasks the replacement of technological and transport equipment and the introduction of new technologies aimed at increasing capacity and diversifying industrial food production.

Diaz-Canel also reviewed the Cuban energy program, and in that sense, the Minister of Energy and Mines, Alfredo Lopez, and the first deputy minister, Raul Garcia, detailed the activities underway, including the efforts to restore the availability of energy generation and the promotion of renewable sources.

  • Published in Cuba
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