Last week, ViMariel S.A., the Vietnamese and Cuban joint venture company started its operations in the Special Economic Development Zone in Mariel (ZEDM).
ViMariel, a subsidiary of Viglacera S.A., is 100% owned by Vietnamese Vietnam Glass and Ceramics for Construction Corporation (Viglacera). ViMariel will construct, design, invest, and manage an industrial park containing all the civil infrastructure necessary to install additional production facilities. The industrial park will cover 156 hectares of land and operate under a 50 year license. The industrial park will focus on businesses related to construction.
Construction is to begin in 2019 and is expected to last for five years. The project is a direct result of the visit by the Secretary General of the Communist Party of Vietnam, Nguyen Phu Trong when he came to Havana earlier this year. It reflects Vietnam’s commitment to supporting the updating of the socio-economic model of the Island, with the goal of attracting more foreign investors (especially those in the business of building materials, electronics, and high technology) to the Special Zone.
Viglacera is already present in Cuba having previously set up the joint venture, SAVING, with Cuban company Geicon in the recovery of two tile production plants in Santa Cruz and one in San Jose, to be followed up with the construction of two additional plants elsewhere.
Ana Teresa Igarza, ZEDM’s General Director, said the first stage will seek to attract factories of glass blocks, bathroom fixtures and flat glass.
She also said that discussions are being held with several companies from different countries to install factories of construction materials at ZEDM because it is considered the main enclave for foreign direct investment.
This agreement signifies further progress in development and strengthening of relations between Vietnam and Cuba.
From our staff writers and editors.
