Cuba, Vietnam agree to enhance bilateral cooperation

HAVANA - Cuba and Vietnam on Wednesday signed an agreement to boost cooperation in various areas, local media reported.

Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca and Vietnamese Construction Minister Trinh Dinh Dung signed the document, which covers cooperation in such areas as agriculture and fishing, biotechnology, health, tourism and sports.

The two ministers agreed that Cuba's new foreign investment law, which offers investors better tax breaks and more legal protections, provides a favorable environment for Vietnamese firms.

"The Asian country was represented by a large government and business delegation, the largest one that has ever attended in a bilateral intergovernmental meeting," the official news agency Prensa Latina reported.

During this session of the Intergovernmental Commission, which began on Oct 7, Vietnamese business leaders toured Cuba's new mega-port of Mariel, located 50 km west of Havana, and the beachside resort of Varadero.

In September, Malmierca visited Vietnam and met with Prime Minister Nguyen Tan Dung, to promote business opportunities offered by Cuba's new port development.