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January Friday

Local projects in eastern Cuba a breeding ground for foreign investment



HOLGUÍN, Cuba, Dec 27 (ACN) The province of Holguin is promoting a number of potential projects for foreign investment in keeping with the new legal regulations that empower local government bodies to develop this activity.

Leonardo Buzón, head of the provincial department of foreign trade, foreign investment and international cooperation, told ACN that his office is sponsoring nine projects included in the portfolio of opportunities, focused on improving local production and providing more services through programs involving food production, construction and culture and using local resources.

“These are small investment projects, but they will bring technological improvements to food production and processing, the construction material industry, and tourism,” he said. “We are also working on the identification of new projects together with the Chamber of Commerce and Cuban embassies in several countries, for instance, by organizing videoconferences and presentations to businessmen.”

Holguín ranks third on the list of Cuban provinces based on the number of foreign investment projects with 46 (after the provinces of Havana and Artemisa), run either by national or local agencies.

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