Vietnamese Ambassador to Cuba Le Quang Long, Cuba’s Deputy Minister of Agriculture Telce Abdel Gonzalez Morera, representatives of Artemisa Province, and leaders of relevant units witnessed the signing ceremony.
Highlighting the significance of the agreement, Ambassador Le Quang Long said that the signing of the International Economic Joint Venture Contract between Hoang Gia Viet Food Joint Stock Company and Alquizar Agricultural Company is not only a commercial agreement but also a testament to the proactive economic diplomacy efforts of the Vietnamese Embassy in Cuba.
“In recent times, the Vietnamese Embassy in Cuba has played an important role as a bridge, actively supporting, connecting, and encouraging the Vietnamese business community to seek and invest in the Cuban market, especially in priority areas agreed by the high-level leaders of the two countries, such as agriculture, renewable energy, biotechnology, and pharmaceuticals. This project is a concrete result of that strategic cooperation direction,” Ambassador Le Quang Long emphasised.
Under the signed contract, the cooperation project will run for 25 years with the possibility of extension, operating under the legal framework of Cuba’s Foreign Investment Law No. 118/2014. Its key objective is to comprehensively develop the value chain of cashew production, processing, and commercialisation, in combination with short-term crops to serve Cuba’s domestic market.
The Cuban side will contribute land, infrastructure, and local production experience. As the cooperating party, Hoang Gia Viet Food Joint Stock Company will provide investment capital, technology, materials, and market connectivity support. A notable financial commitment in the contract is Viet Nam’s funding package of up to 50.56 million USD to supply machinery and equipment, including 29.1 million USD for technological equipment and 21.45 million USD for transport vehicles for agricultural production.
At the ceremony, Luis Alberto Hernandez Tejeda, General Director of Alquizar Agricultural Company, and Nguyen Khac Hoang, General Director of Hoang Gia Viet Food Joint Stock Company, signed this important cooperation agreement.
The project is expected to become a model of effective cooperation, contributing to technology transfer, productivity improvement, and agricultural production diversification in Artemisa Province, while further strengthening the traditional friendship and comprehensive cooperation between Viet Nam and Cuba. The success of this agreement also opens opportunities and encourages more Vietnamese enterprises to invest in the promising Cuban market.
