Cuba commits to foreign investment for development

HAVANA, cUBA, Nov 15 (ACN) Cuba continues its commitment to foreign investment as an important source for the country's economic development, it was revealed today during the presentation of the portfolio of opportunities at the 38th edition of the Havana International Fair (FIHAV 2022).

Rodrigo Malmierca Diaz, minister of foreign trade and foreign investment, in a presentation attended by Manuel Marrero Cruz, Cuban PM, informed that in this year there are 708 projects in the portfolio, 30 more than in the previous one and 104 projects for the first time managed by municipal and provincial governments stand out.

The total amount of these investments reaches 33,450 million dollars, explained Malmierca Diaz and stated that there is a vision that covers practically the entire nation and interaction with the economic actors.

In spite of the current difficulties, there are conditions that favor the attraction of foreign investment, along with the guarantees and tax incentives contemplated in the current legislation, and also the gradual recovery of the economy will favor the entry of foreign capital, he commented.

This year 101 new projects are being incorporated, three in the Mariel Special Development Zone (ZEDM), 71 are being withdrawn and 229 are being adapted, mainly due to changes in the descriptions, modality or amount of investment.

At the meeting Cuba announced that it will continue expanding and diversifying business opportunities, as well as facilitating their establishment, investment processes and operations.