Vietnam Delivers Cuba-Grown Rice to Partner, Bolstering Economic Cooperation

Vietnam has delivered rice grown in Cuba to a partner nation as part of bilateral agricultural cooperation. This marks the second rice shipment by AgriVMA to Cuba in 2026 under their agreement. A representative from BioCubaFarma emphasized that the long-standing Vietnam-Cuba friendship provides a solid foundation for advancing comprehensive cooperation, especially in science and technology, which is a key driver for socio-economic development and national healthcare sovereignty. Vietnam must pivot from tax breaks to cost-based support. Incentives will target infrastructure, workforce training, R&D, and innovation, directly lowering investment costs and boosting operational efficiency, a strategy emulated by competing nations for quality FDI. According to HSBC, success will increasingly be measured by whether foreign investment brings technology, develops local talent, establishes R&D capability, and integrates Vietnamese enterprises more deeply into global value chains. Total retail sales of goods and consumer service revenue in July were estimated at VNĐ669.1 trillion (over US$25.45 billion), up 0.9% from June and 14.5% year-on-year. Total exports of agro-forestry-aquatic products in the first seven months of 2026 reached nearly US$42.8 billion, up 7.5% from the same period last year. Inflation remained under control, with the CPI edging down 0.1% in July. Average CPI in January-July rose an estimated 4.39% year-on-year, staying within the yearly target. The government has extended the exemption of agricultural land use tax until December 31, 2030, and allowed businesses and individuals to defer VAT, corporate income tax, and personal income tax payments during 2026. More than 125,900 new enterprises were established between January and July, up 16.9% year-on-year. Ho Chi Minh City is calling for investment in around 250 projects across nine priority sectors, focusing on developing the International Financial Centre, digital finance, smart banking, large-scale logistics and port developments, transport infrastructure supporting trade, green industries, clean energy, and next-generation industrial parks. The resolution on renewing Vietnam’s development model aims to unlock new growth space, mobilize resources more effectively, strengthen national competitiveness, and help Vietnam achieve its goal of becoming a developed, high-income country by 2045. Source: VietnamPlus English