By putting in an initial investment of US$60 million, Kim Dinh has become the first Vietnamese firm to invest in the Caribbean country.

The investment was announced by Le Trong Dinh, president of the Kim Dinh Executive Board at a press briefing at the Dominican Republic’s Ministry of Foreign Affairs on April 13.

Dominican newspapers quoted the Dominican ambassador to Vietnam Hanns Dannenberg Castellanos, as saying the investment was a result of meeting between President Leonel Fernanderz and President Nguyen Minh Triet during their participation at the Non-Aligned Movement Summit in Cuba last year.

Last October, Kim Dinh company signed a letter of intention with the Electric Power Administration and Development Company (CADAFE) of Venezuela to jointly venture in producing lighting equipment, electricity meters, and solar-power batteries in Venezuela.