The People’s Committee of HCM City and the Ministry of Science, Technology and Environment of Cuba on Friday signed a Memorandum of Understanding (MoU) on co-operation in development and managing science-technology zones.

HCM CITY — The People’s Committee of HCM City and the Ministry of Science, Technology and Environment of Cuba yesterday signed a memorandum of understanding (MoU) on science-technology zones. 

Under the MoU, the two sides will share knowledge and best practices in setting up, managing and developing scientific-industrial parks and incubators. They will also exchange information and experts in developing hi-tech zones and support firms wishing to engage in technology transfer and invest in science-technology and hi-tech zones. 

Speaking prior to the signing ceremony, Chairman of HCM City People’s Committee Nguyễn Thành Phong welcomed the visit of Cuban Minister of Science, Technology and Environment Elba Rosa Perez Montoya. 

He said the city paid special attention to industrial and hi-tech parks, and wished to intensify co-operation with Cuba in science-technology to bring benefits to both sides. 

The Cuban minister noted the dynamic development of HCM City, and invited the city’s officials to attend the inauguration of Cuba’s first science-technology zone this November. 

Montoya said Cuba was implementing a long-term socio-economic development plan and had adopted many policies to stimulate science-technology and innovation. She said Cuba hoped to learn from HCM City's experience in development and attracting foreign investment. — VNS