Portfolio with Enormous Opportunities

A secure and transparent legal body, political stability, social and legal, coupled with a secure environment for foreign staff, and a highly skilled workforce were highlighted as potentials of Cuba for foreign investment by the minister of this sector, Rodrigo Malmierca, introducing, at the 32nd International Fair of Havana (FIHAV 2014), the new Portfolio of Opportunities for foreign companies interested in doing business with Cuba.
 
The Minister noted that the adoption of Law No. 118 and its complementary norms foster a favourable business environment, since, among other advantages, it allows the formulation of sectorial policies for identifying investment opportunities with foreign capital that facilitate access to the Cuban market and its consumers.

Malmierca also highlighted, as incentives, the country's geographical location in the centre of an expanding market, and the high indicators in education, social security and health of the population.

He underscored the advantage in the new arena of the international agreements signed by Cuba with the Latin American Integration Association (LAIA), the Caribbean Community (Caricom), the Bolivarian Alliance for the Peoples of Our America (ALBA), the Southern Common Market (Mercosur), the European Union (EU) and World Trade Organization (WTO).

The head of the Foreign Trade and Foreign Investment told the businessmen that the government policy prioritizes research and technological innovation, and is working for a basic infrastructure with communications networks.

Additionally, it has over 20 airports, ports supporting deep draft ships, and also more than 95 percent of the country is electrified, and there is an extensive network of rail and road communications.

Malmierca said the Cuban government recognizes the role of foreign investment flows to contribute to the sustainable economic development of the country, so it is presenting this Portfolio of Opportunities that will become increasingly broad and diverse.

During the working days of FIHAV 2014, entrepreneurs from over 60 nations continued business sessions, as part of a comprehensive program, which on Tuesday will have as its highlight the presentation of the Mariel Special Development Zone.

Translated by ESTI