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Cuban deputy prime minister thanks Saudi Fund for investments

Havana, May 10 (Prensa Latina) Cuban Deputy Prime Minister Ricardo Cabrisas thanked the director of Local Content of the Saudi Fund for Development (SFD), Abdulmohsen Al Khayal, for the projects being done by that institution in the country’s hydraulic sector.

Upon receiving the Saudi delegation, Cabrisas, who is also the minister of Foreign Trade and Foreign Investment, underlined the significance of the new SFD visit to strengthen bilateral ties and follow up on the agreements reached in previous contacts between delegations from both countries.

Cabrisas underscored the importance of the ongoing negotiations for the constitution of a high-level mechanism to monitor the economic, commercial, financial and cooperation actions agreed upon between the two nations, as well as the promotion and reciprocal protection of investments, and to prevent double taxation and tax evasion.

The SFD representatives reiterated their willingness to support Cuba’s economic development with the financing of projects that are reflected in the quality of life of the population and contribute to improving infrastructure.

At the same time, they reiterated their willingness to assess investments in several prioritized economic sectors such as tourism and hydraulic resources.

Prior to the meeting, members of the Saudi delegation visited social works financed by the SFD and met with the president of the National Institute of Hydraulic Resources, Antonio Rodríguez.