Minister of Tourism Juan Carlos Garcia presented the portfolio available for foreign capital during the 2nd 2021 Cuba Business Forum and said that its 106 proposals can give rise to very high-standard projects.
He highlighted Cuba’s vast experience in supporting foreign investors, such as the 27 joint ventures set up, 97 hotel management and commercialization contracts, two service management contracts and one international economic association contract in force.
Garcia said that the Foreign Investment Act protects and facilitates business people’s work and the new tourism policy makes possible franchise contracts and leasing of tourist facilities, among others.
Moreover, it boosts the modality of joint ventures in theme parks, real estate projects and other projects that complement hotel activity.
The minister said that Cuba aims to attract and diversify markets and create high-standard tourism products and commented on the possibilities of establishing businesses related to nautical activities and health resorts.
From Monday until December 2, more than 2,200 enterprises from 86 countries are participating in the 2nd 2021 Cuba Business Forum, which is being held virtually and aims promote trade, investments and renewable energy sources in this nation.