Cuba Approves 12 New Projects in the Mariel Development Zone

HAVANA, Cuba, Nov 1 (acn) The 35th International Trade Fair, FIHAV 2017, continued on Wednesday in the Cuban capital with an announcement that from November of 2016 to date, 12 new projects were approved from Cuba, Portugal, Switzerland, Canada, Russia, Puerto Rico, Brazil, Spain and France in the Mariel Special Development Zone.

The General Director of the office of the strategic area for the national economy, Ana Teresa Igarza said at Havana’s Expocuba exhibition center that there are 31 authorized users of the zone with an investment value of over 11 billion dollars.

She pointed out that those businesses, from entities of 14 countries, five of them 100 percent Cuban capital, 15 foreign capital and 8 joint ventures while are under the modality of International Economic Association.

Among the new projects approved are Cuban-Spanish Logistica Hotel of the Caribbean S.A and El Salado S.A. joint ventures, the latter to construct condominiums and golf courses; and the TOT Color Group S.A. also from that European nation dedicated to the production of special paints.

Also included are the Engimov Caribe S.A., Portuguese company related to engineering and construction; the Russian Atucentro ZED, for maintenance and production of transportation machinery; Fidas do Brasil S.A., focused in logistic activity.

ZEDM also incorporated so far this year, to the Cuba-Italy Arthis Industry S.A joint venture for the production of hygiene articles; and the Cupet-Sherrif International Economy Association for the exploration of oil.

Nescor S.A, is a joint project between the Cuban Coralsa company and the Nestle multinational based in Switzerland dedicated to the production and commercialization of toasted coffee and other food; while Cimex Mariel is a company with total Cuban capital for the elaboration and distribution of Cubita coffee.

The most recent authorized in that region is the Rimco family business from Puerto Rico, exclusive distributor of construction and mining machinery and others produced by Caterpillar company.

In tune with Igarza, the new portfolio of opportunities to invest in the zone contemplates 50 proposals in the sectors of industry, biotechnology, pharmaceutical, logistics, food, construction, transportation and furniture.

There are currently 10 users operating in the area located 45 kilometers from Havana and it is expected that in early 2018 another four plants are expected to function.

ZEDM, created four years ago, is directed in encouraging comprehensive projects that will allow the substitution of imports, fomenting exports with national products and generate employment, with international trade and domestic economy.