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Cuba’s Mariel Special Development Zone expected to bring investors

Cuba’s Mariel Special Development Zone expected to bring investors

Havana, Dec 1 (Prensa Latina) Consolidating as the quintessential space in Cuba for the establishment of businesses with foreign capital is the aspiration of those who work in the Mariel Special Development Zone (ZEDM), executives from that entity noted.
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ZEDM General Director Ana Teresa Igarza said at a panel during the 2nd Cuba Business Forum that for this purpose they are working to accompany investors in 61 approved projects, 35 of which are already executing their productive activity.

These are mainly foreign companies, but there are also 15 entities with joint funds, others are national, and a personal venture was incorporated, which begins the opening to the private sector in Cuba.

As part of the new portfolio of opportunities, the ZEDM offers 56 projects, with an approximate investment of 1.968 billion dollars.

Add to this the infrastructure conditions offered by the enclave, 45 kilometers west of Havana and with a port with the capacity to receive ships of different sizes, in addition to other facilities created there, Igarza stressed.

Despite the challenges that 2022 will bring, we are confident that we will be successful, she said optimistically, although she pointed out that it is still necessary to be more proactive and dynamic in attracting business and accompanying investors throughout the process.

Likewise, they face the challenge of achieving the adequate insertion of the new forms of economic management that exist in Cuba, and the articulation of all the businesses at the ZEDM with the internal economy.

In her presentation, the CEO highlighted the presence of businesses not only from large companies, but also from family-owned entities such as Thai Binh Global Investment Corporation, from Vietnam; and from high-tech factories, such as the recently created CIGB Mariel.

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