Saudi Fund ratified its willingness to support development in Cuba

 

HAVANA, Cuba, May 10 (ACN) A delegation from the Saudi Fund for Development ( SFD), headed by Abdulmohsen Al Khayal, executive director of Local Content, met in Havana with Cuban deputy prime minister Ricardo Cabrisas Ruiz, to whom they ratified their willingness to continue financing cooperation projects on the island.

In the meeting, which took place on Thursday, the representatives of the SFD reiterated their intention to support Cuba's economic development based on investments that reflect in the quality of life of the population and contribute to improve the infrastructure for future projects in the country.

According to an official statement, the Fund assured that it is willing to evaluate investments in different prioritized economic sectors, such as tourism and hydraulic resources.

For his part, Cabrisas, who is also minister of foreign trade and investment, highlighted the significance of this new visit of the SFD for the strengthening of bilateral ties and to follow up on the commitments adopted in previous contacts between delegations of both countries.

He highlighted the importance of the ongoing negotiations for the creation of a high-level mechanism to follow up on economic, commercial, financial and cooperation actions between the two countries, as well as the Agreements for the Promotion and Reciprocal Protection of Investments and to Avoid Double Taxation and Tax Evasion.

In the days prior to the meeting, the Saudi delegation visited social works executed with financing from the Fund and, as part of the program, met with the president of the National Institute of Hydraulic Resources, Antonio Rodriguez Rodriguez Rodriguez, and will also meet with the Minister of Tourism, Juan Carlos Garcia Granda.