Vietnamese businesses gained insights into investment opportunities inCuba during a seminar in Hanoi on September 4, which introduced theLatin American country’s latest policies and incentives.

CubanMinister of Foreign Trade and Investment Rodrigo Malmierca Diazpresented his country’s new investment law and associated policies toattract foreign investments in the Mariel Special Development Zone(ZEDM).

Yanet Vazquez Valdes, Deputy Director of the ZEDM Office,said the zone, which is located in the port town of Mariel to the westof the capital, Havana, is conveniently located for the transportationof goods, and possesses a highly skilled workforce and comprehensiveinfrastructure system.

Investors will benefit from the zone’seffective administrative system and an array of tax incentives. Forexample, investors will be exempted from personal income tax ondividends or business profits, as well as from tariffs on machinery andequipment imports, she elaborated.

Cuba is promoting investmentsin export manufacturing in a bid to reduce its own imports, removebottlenecks in the production chain, and facilitate modernisation.

Mostnotably, participants were informed that the country will allowcompanies owned entirely by foreigners to carry out major industrialinfrastructure projects.-VNA