following changes to the country's trade policies that are designed to
attract foreign firms in the service and production sectors, according
to the Ministry of Industry and Trade's American Department.
Nguyen Xuan Khien, the department's head, said Cuba is particularly looking for real estate investors.
He said Cuba has begun actively looking for foreign investment at
the beginning of this year, mostly in the fields of tourism, plastic
packaging, paper processing, mining and foodstuffs.
Khien said investors in golf courses would be permitted to rent land for 99 years.
Dang Xuan Cuong, from the Vietnam Food Industries Company, said his
company is looking into Cuba , which is a new market for his firm.
Last month, the Vietnam Northern Food Corporation signed a contract to sell 200,000 tonnes of rice to Cuba .
Every year, Cuba imports about 400,000 tonnes of rice from Vietnam .
Despite the latest trade incentives, exporters are still facing difficulties, such as late payment, Cuong said.
He said his firm often receives payment 300-500 days after the goods are delivered.
Because of continued late payment, Cuong said his company has to
export goods to Cuba through a firm in a third country that paý more
promptly.
However, he said Cuba had an
attractive investment climate and that Vietnamese firms should closely
study this new market.
To boost trade relations
between the two countries, the Ministry of Industry and Trade plans to
hold an investment forum in Havana , the country's capital.
Particular emphasis will be on sectors such as information and
technology, rice, footwear, garments and pharmaceuticals./.
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