Cuba is offering a wide choice of incentives to attract foreigninvestors, President of the Cuban Chamber of Commerce Orlando HernándezGuillén told a workshop in Ho Chi Minh City on April 17.
Vietnam is one of the countries Cuba prioritises in developing tradeand investment, he stressed, adding that now is a favourable time toseek partners and form ventures.
Oscar Perez Oliva,Executive Director of the Mariel Special Development Zone, said Cuba iswaiving taxes on personal income sourced from business profit orcorporate dividends, worker hiring and import tariffs on equipment andmachinery.
Sales and services taxes are exempted in the first year and will later rise to a mere 1 percent.
Fields in much need of investment include bio-technology,pharmaceuticals, packaging, renewable energy, agriculture,telecommunications and information technology, tourism, real estate andinfrastructure.
Deputy Director of the VietnamTrade Promotion Agency (Vietrade) Bui Thanh An cited successfulVietnamese business models in Cuba, including a hotel and an 18-holegolf course by the Vietnam Housing and Urban Development Corporation, aswell as an oil and gas survey and exploration project by the VietnamNational Oil and Gas Group.
Last year, trade hit207.5 million USD with Vietnam exporting food, confectioneries andfootwear to Cuba and importing pharmaceuticals and health food.
This year, Vietrade is working to connect the Vietnamese businesscommunity with Cuba by sharing information about the local businessclimate and legal regulations as well as holding market survey trips.-VNA
Vietnam is one of the countries Cuba prioritises in developing tradeand investment, he stressed, adding that now is a favourable time toseek partners and form ventures.
Oscar Perez Oliva,Executive Director of the Mariel Special Development Zone, said Cuba iswaiving taxes on personal income sourced from business profit orcorporate dividends, worker hiring and import tariffs on equipment andmachinery.
Sales and services taxes are exempted in the first year and will later rise to a mere 1 percent.
Fields in much need of investment include bio-technology,pharmaceuticals, packaging, renewable energy, agriculture,telecommunications and information technology, tourism, real estate andinfrastructure.
Deputy Director of the VietnamTrade Promotion Agency (Vietrade) Bui Thanh An cited successfulVietnamese business models in Cuba, including a hotel and an 18-holegolf course by the Vietnam Housing and Urban Development Corporation, aswell as an oil and gas survey and exploration project by the VietnamNational Oil and Gas Group.
Last year, trade hit207.5 million USD with Vietnam exporting food, confectioneries andfootwear to Cuba and importing pharmaceuticals and health food.
This year, Vietrade is working to connect the Vietnamese businesscommunity with Cuba by sharing information about the local businessclimate and legal regulations as well as holding market survey trips.-VNA
