Sunday, November 28, 2021

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Cuba has a new foreign investment opportunities portfolio

Cuba has a new foreign investment opportunities portfolio

Havana, Oct 5 (Prensa Latina) Cuba on Tuesday has a new Portfolio of Opportunities for Foreign Investment in its territory, consisted of 678 projects, 175 more than the previous one, which was approved by the Council of Ministers.
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The portfolio was presented by Rodrigo Malmierca, Minister of Foreign Trade and Foreign Investment, who explained in the most recent meeting of that executive body that its preparation started from the importance and need to attract foreign capital in the current economic situation.

Cuba currently has 429 projects with approved directives, ready to be agreed on, and 56 projects in the Mariel Special Development Zone (ZEDM, in Spanish), created to generate exports, promote import substitution and foster the transfer of technologies and skills related to transaction management.

At present, this enclave, located in western Havana, approved 59 businesses, 34 of which are in operation and six are in the reinvestment phase after their contracts ended.

The foreign investment in Cuba is legally protected by Law 118 of 2014. It regulates access to foreign financing, technologies and new markets, the insertion of national products and services in international value chains and the generation of other positive effects on its domestic industry and the nation’s growth.

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