Cuba promotes Foreign Trade and Foreign Investment one-stop shop

The Foreign Trade and Foreign Investment one-stop shops were presented on Tuesday during the Business Forum Cuba 2020.

Both electronic tools, managed from the Ministry of Foreign Trade (Mincex), will facilitate business with foreign entrepreneurs from the existence of a single center where all the requirements to be met by the entities to start their procedures and applications for permits converge, which will speed up waiting times and offer greater security and transparency in the procedures.

The Single Window for Foreign Trade (VUCE) is an instrument that allows the presentation of information and standardized documents to comply with all legal requirements to the parties involved in trade and transportation of goods, explained Vivian Bárbara Herrera Cid, General Director of Foreign Trade at Mincex.

The specialist pointed out that in the first stage 97 procedures from 27 competent national authorities were documented and a survey of procedures and regulations was carried out.

Currently, we are working on phase two of the VUCE, whose objective is to simplify the registration processes of importers and exporters in the country, she said.

In the case of the Single Window for Foreign Investment (VUINEX), Carlos Luis Jorge Méndez, General Director of Foreign Investment at Mincex, said that the project is currently in the implementation phase of the computer system, which allows the management of new investment projects by introducing the name and the sector of the economy to which the investment belongs.

At the end of this month it is planned to launch the system on an international scale, he said.

The official also commented that a training process is being developed for the agencies and personnel involved in the activity.

These applications are part of the computerization process of Cuban society and they seek to attract projects and businesses with foreign investment in the country.