According to Viglacera, the two sides signed an agreement on the joint venture in April.
The joint venture, once established in October, will contribute to meeting the demand for construction materials in Cuba and the Latin American market.
Việt Nam is the second biggest trade partner of Cuba in Asia, with bilateral trade value exceeding US$207 million in 2014, according to the General Department of Customs.
Việt Nam’s major exports to Cuba include rice, coal, chemicals, textiles and computers; while Cuba exports pharmaceuticals to Việt Nam, worth nearly $1.3 million.
According to the Ministry of Planning and Investment, as of December 2015, there was one Cuban project operating in Việt Nam with a registered capital of $6.6 million. Việt Nam also had one oil project in Cuba.
