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Cuba bets on foreign investment to revive trade

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Cuba bets on foreign investment to revive trade

Havana, Aug 16 (Prensa Latina) Cuba will expand foreign investment scope in trade in order to provide more supply to the population, First Deputy Minister of Foreign Trade and Investment, Ana Teresita Gonzalez, said.
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Speaking on national television, Gonzalez stated that the country has so far prioritized foreign capital participation in the production of goods and services, so the new provisions substantially modify its role in the retail and wholesale trade.

The official added that their implementation will be accompanied by the control and follow-up mechanisms to guarantee their effectiveness, as the aim is to increase the levels of supply and stabilize the offers at the stores.

Specifically, the deputy minister said that the package includes the development of businesses across the country to promote the participation of external financing in the wholesale sales, something that is already being worked on.

Gonzalez explained there are currently two projects with those characteristics, while other proposals are under negotiation.

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