In a remarkable show of solidarity, individuals, businesses, and public institutions across Vietnam have donated upwards of $4.8 million in a mere 48-hour period to support Cuba's government. This effort marks the beginning of an official campaign aimed at aiding the Cuban regime, as reported by the state-run Vietnam News.
The campaign, launched to "enhance the spirit of friendship and solidarity" with Havana, is part of the 65th anniversary celebrations of diplomatic relations between the two nations. Its main goal is to gather resources for the shipment of medical supplies, essential goods, and to support cooperative projects.
Initially, the campaign aimed to collect 65 billion dong (approximately 2.1 million euros), but this target was significantly surpassed within the first two days, according to organizers. Vietnam News reported that by 2:00 PM local time on Thursday, nearly 128 billion dong (equivalent to 4.17 million euros) had been raised, with the campaign continuing until October 16.
Rogelio Polanco Fuentes, Cuba's ambassador to Vietnam, celebrated the news on his social media account, emphasizing Vietnam's support for Havana. Other Cuban officials, including diplomat David Ramírez Álvarez and Enrique Villuendas from the Central Committee, echoed this sentiment.
Vietnam's Ongoing Support for Cuba
Vietnam, a key supplier of rice to Cuba, has sent numerous shipments of this staple food to the island over the years as part of their bilateral cooperation. Along with China, Vietnam has provided food aid to Cuba, which allocates around $2 billion annually to import products for its basic food basket.
This campaign emerges amidst a severe economic crisis in the Caribbean nation, characterized by shortages of food, medicine, and fuel, rampant inflation, and prolonged power outages. The Cuban regime blames these issues on the U.S. embargo, natural disasters, and internal economic failures.
The Role of GAESA in Cuba's Economic Struggles
Amidst this economic turmoil, it was recently revealed that GAESA, the business conglomerate linked to Cuba's Revolutionary Armed Forces, controls over $18 billion in liquid assets, surpassing the international reserves of countries like Panama or Uruguay. A Miami Herald investigation, based on 22 leaked financial documents from 2023 and 2024, uncovered that this wealth concentration is directly tied to Cuba's structural impoverishment.
Under the leadership of Raúl Castro, who continues to wield significant influence at 94, GAESA has functioned as a parallel central bank, accumulating foreign currency reserves without institutional oversight or accountability.
For years, the regime has solely blamed the U.S. embargo for the island's shortages. However, the financial documents indicate that the funds to prevent the crisis are available but are not being allocated to resolve it. Meanwhile, under the guise of crisis, Cuba continues to seek "aid" from its allies, including Vietnam, Russia, China, and Venezuela.
FAQs on Vietnam's Support to Cuba
Why did Vietnam launch a fundraising campaign for Cuba?
Vietnam initiated the campaign to celebrate 65 years of diplomatic relations with Cuba and to foster friendship and solidarity. The funds are intended to support Cuba with medical supplies and essential goods.
How much did Vietnam aim to raise initially?
The initial target was 65 billion dong (around 2.1 million euros), but this was greatly exceeded within the first two days of the campaign.
What role does GAESA play in Cuba's economy?
GAESA, controlled by Cuba's armed forces, acts as a parallel central bank, holding over $18 billion in assets. This has contributed to the country's structural poverty by not addressing the economic crisis.