Cuban president warns on aspects to be improved related to foreign investment

HAVANA, Cuba, Dec 20 (ACN) Miguel Diaz-Canel, first secretary of the Central Committee of the Communist Party of Cuba and president of the country, reflected today in Havana on aspects to be improved in the process of implementation and exploitation of foreign investment in the country.

Speaking at the debate held by the deputies after the presentation of the report of the Ministry of Foreign Trade and Foreign Investment (MINCEX by its Spanish acronym) on the activity, the president pointed out that one of the issues to be perfected is the conformation of the negotiating teams, which on many occasions are made up of more cadres than jurists.

This, he said, has repercussions on the Cuban side's advice and leaves it unprotected in the case of any subsequent breach of contract.

Diaz-Canel insisted on the need to change this situation and stated that, although there have been plans to do so for some time, no progress has been made.

He also referred to the speed of the processes, mainly in the follow-up to complete a project.

Cuban leader stressed that every time a project is promoted, it must be insisted to be materialized in the shortest possible time, and this must involve both MINCEX and the entities that participate on it.

Regarding international cooperation projects, he stressed that the resources should be used for the direct increase of productions, since sometimes they are destined to other purposes with less economic impact.

This morning Rodrigo Malmierca, head of MINCEX, gave the parliamentarians an update on the progress of foreign investment in the country, and acknowledged that despite the actions taken, the results in the activity are still insufficient.

Gathered at the Havana Convention Center as part of the activities prior to the 8th ordinary period of sessions of the National Assembly of People's Power, in its 9th Legislature, the MPs will also receive information from the Ministries of Domestic Trade, Agriculture and Food Industry.