Vietnamese concessionaire begins construction in Cuba

The building of the ViMariel Industrial Park, the first concessionaire with 100 percent Vietnamese capital of the Mariel Special Development Zone (ZEDM), begins Wednesday in this logistical enclave, 45 kilometers from Havana.

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28 de noviembre de 2018 - Taken from Prensa Latina

The building of the ViMariel Industrial Park, the first concessionaire with 100 percent Vietnamese capital of the Mariel Special Development Zone (ZEDM), begins Wednesday in this logistical enclave, 45 kilometers from Havana.

According to sources of the ZEDM, the beginning of the construction is one of the ativities scheduled as part of the Intergovernmental Cuba-Vietnam Commission Session to be held here this day.

ViMariel S.A., created between Cuba and Vietnam last July, is a subsidiary of the Vietnamese trading company Viglacera Corporation S.A., which has extensive experience in the development and operation of industrial parks in that Asian country.

The entity will also be able to project, invest, build, manage and exploit the infrastructure and an Industrial Park in a 157 hectare area located in the sector A of the ZEDM.

Thanks to the granted authorization, ViMariel S.A. will implement an investment program to multiply the development of the infrastructure of this enclave and the attraction of foreign direct investment, according to the available data on the ZEDM website.

According to statements previously made by the General Director of the Zone, Ana Teresa Igarza, the company intends to set up businesses linked to the constructions, from its own or other associated entities.

Basically, she explained, this industry will be focused on building materials, heavy industry, packaging, manufacturing according to the use of personal and household hygiene, biopharmaceutical industry, as well as logistics.

The concession, established for 50-year terms, also expects to attract investors to Cuba, mainly linked to the production of flat glass and glass blocks, said Igarza.

The ZEDM, created in 2013, was founded to foster sustainable economic development through attracting foreign investment, technological innovation and industrial concentration, aiming to increase exports, effective import substitution and generate new sources of employment.

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