Mariel zone sparks promising economic future

After a little over four years of operations, the Special Development Zone, located on the western Cuban harbor of Mariel keeps on the road to becoming a promising platform for foreign investment projects in the region.

Although the zone has not experienced yet a development pace as fast as desired, it does begin to consolidate its performance aiming at replacing imports, increasing sales at the world market and creating new jobs, all linked to the local economy.

So far, the zone has reported a total investment sum of 1.2 billion dollars with the creation of 888 new jobs.

At present, 34 users from 16 countries, including Cuba, operate in the zone, which has relations with nine multi-national companies. The companies operating include five Cuban entities, 19 foreign capital firms, eight joint ventures and two international economic associations.

On the works are ten projects in the areas of industry, biotechnology and pharmaceuticals, logistics, construction, transport, agri-business and real estate.

The development of high-standard infrastructure has been a priority at the zone, with the Cuban state having invested about 300 million dollars annually.

Meanwhile, priorities for 2018 include the increase in the number of users at the zone; the implementation of ongoing construction works so that such projects start operating, producing and getting their expected results, as it's been the case of other successful projects, which can now reinvest capital in the Cuban zone.