Cuba is Safe Ground for Foreign Investment

Havana, Jun 1 (ACN) Investing in Cuba is a good decision; it is a safe market with stability, said Cuban Prime Minister Manuel Marrero as he addressed participants at the 13th World Congress of the World Confederation of Italians from around the World (CIM).

During the forum underway at Havana’s National Hotel, the Premier said that the country keeps advancing towards the improvement of its social and economic model despite the impact of the US economic, commercial and financial blockade, which has banned 100 banks to do transactions with Cuba this year.

The Cuban head of government recalled that current challenges include the use of science and innovation, encourage food production and strengthening the performance of the state-owned socialist enterprises while favoring their linkage to the growing number of non-state companies.
Marrero stressed ongoing deep transformations taking place in state-owned companies to increase efficiency and autonomy, actions that put them in conditions to do business and set up associations with foreign companies.

Addressing delegates from the autonomous organization of Italians and their descendants in 33 nations, the Premier stressed the good state of relations between Cuba and Italy, particularly in trade, investment and cooperation.

Meanwhile, Cuban Foreign Trade and Investment Minister Rodrigo Malmierca briefed the delegates about the legal frame regulating foreign trade in Cuba, the highly skilled human resources, the advancement of projects at the Mariel Special Development Zone and the island’s scientific and technological development.

Priority business projects are those related to renewable energy sources, food production and the diversification of exports, considered strategic sectors, Malmierca explained.

Italian participants called for the end of the US blockade of Cuba, a demand included in the final document adopted by the Congress and acknowledged the gifts of Cuba as a safe tourist destination.

Italy is implementing three projects at western Cuba’s Mariel Special Development Zone, 17 foreign investment businesses in operations, while it is the island’s nineth major economic partner in the world and the seventh most important source of tourists to Cuba.