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Cuba, U.S. to seek investment openings in agriculture

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Cuba, U.S. to seek investment openings in agriculture

Havana, Apr 6 (Prensa Latina) Cuban foreign trade and agricultural authorities on Wednesday presented opportunities for foreign investment in agri-food sector, during the 3rd Cuba-USA Agricultural Business Conference.
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Livestock, poultry, fruit products, import of grains and production of eggs and milk were some areas to boost exchange between businessmen from both nations.

Katia Alonso Cañizares, director of Business of the Ministry of Foreign Trade and Foreign Investment (MINCEX, in Spanish), said that following a two-year tightened blockade and pandemic, Cuba is committed to becoming an investment place and attracting financing, technologies, new methods management and markets.

MINCEX´s most recent portfolio of opportunities included 678 projects for over $12 billion and for the first time food production showed 174 initiatives, she specified.

Regarding Act 118 on Foreign Investment passed in 2021, Ms. Cañizares highlighted that it includes too interesting options such as special tax regime, two investment modalities and the possibility of repatriating dividends and profits with no charge at all.

In addition, it adds the possibility of drawing up projects with low investment costs, quick recovery and start-up.

Orlando Díaz, director of International Affairs of the Agriculture Ministry (MINAGRI, in Spanish), explained the country´s agricultural sector has 57 foreign investment projects, divided in agricultural, forestry, logistics, flora and fauna, among others.

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