Cuba Closer to its Emigration, this Time from Business

Cuba Closer to its Emigration, this Time from Business
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2 December 2021
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The updating of Cuba's immigration policy and its economic model are some of the factors that are leading today to a new stage in relations with the community residing abroad.

 

In statements to Prensa Latina, the director general of consular affairs and attention to citizens residing abroad of the Foreign Ministry, Ernesto Soberón, pointed out that goes hand in hand with the development of new technologies, which facilitate exchanges and don’t require physical presence to establish some kind of link.

 

The country, for more than 40 years, has kept a position of approach first, and then establishing ties with nationals living outside its borders, and this leads to a greater interest of that community in participating in the development process, and the socioeconomic status of the island, he expanded.

 

In that sense, he highlighted that they currently have the possibility of establishing businesses in Cuba, both those who live abroad permanently, as well as those who still have their residence here.

 

He highlighted that there are priority sectors open to these investments and minor projects, mainly related to local development, which makes the possibilities of participation of Cubans more affordable.

 

They can also establish micro, medium, and small companies (MSMEs) and although they are not considered foreign investment, they do allow them to be part of the new actors called to help boost the national economy.

 

The official from the Ministry of Foreign Affairs (Minrex) insisted that all these opportunities open the way to a co-operation that benefits both Cubans who reside permanently abroad or those on a temporary basis, as well as the country.

 

In this regard, he added that they can help in the search for projects of interest to the Caribbean nation and the States where they reside, as well as to themselves. "We want Cubans living abroad to be promoters of development and well-being," he said.

 

Soberón highlighted local development projects, many of which require less capital funds, so they are more accessible to that community and allow them to strengthen ties and help improve the conditions of the place where they were born.

 

As a rule, he continued, they can be expected to be more interested in investing in the development of their jobs, rather than foreigners, who first need to familiarize themselves with the environment.

 

This is a new process, but from the exchanges sustained, we are aware of inclinations towards the agricultural branch, small and medium-sized municipal industries, aquaculture, services and everything that stimulates the territorial economy.

 

In the case of foreign investment by Cuban citizens residing abroad, there is no limitation, the law defines that the foreign investor is that natural or legal person with domicile and capital abroad, he specified, adding that Cubans enjoy the same facilities.

 

The Caribbean nation concludes this Thursday 2nd the Business Forum, which had the participation of 2,200 people from 86 countries, and became a space for debate and updating with the aim of promoting foreign trade and foreign investment.

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