November 04, 2019 | 19:36 (GMT+7)
First investor licensed to operate in Cuba’s Vietnamese-built industrial park
The Portuguese group Enpromoulds is the first enterprise to set up its plant at the ViMariel Industrial Park, which is located in Cuba’s Mariel Special Development Zone.
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The ViMariel Industrial Park is also Cuba’s first project handed over to a fully-owned foreign firm. |
Enpromoulds’ member unit Ecoplast has gained a permit to operate in the industrial park for 25 years, producing paper, plastic and rubber moulds.
The industrial park is now under construction. Work on the park’s construction started in November 2018 by the Vietnamese multi-sector group Viglacera.
The construction is expected to complete in five years and companies present at the park may operate for 50 years.
The ViMariel Industrial Park is also Cuba’s first project handed over to a fully-owned foreign firm at the Mariel Special Development Zone, which is designed to be Cuba’s leading economic region.
After six years of operation, the Mariel Special Development Zone has attracted 2.2 billion USD worth of investment from companies in Spain, Russia, Mexico, Brazil, China, France, Germany, and Vietnam.
Source: VNA