Author Name: Carribean Channel, Cuba TV.
This story was originally published on canalcaribe.ict.cu. [1]

Portfolio update of opportunities for foreign investment

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Date: 2021-10

Currently, the country has 429 projects with approved directives, ready to be agreed, and 56 in the Mariel Special Development Zone (ZEDM), created to generate exports, promote import substitution and promote the transfer of technologies and skills, referring to transaction management.

At that time, this enclave, located in the north of the Artemisa province, 45 kilometers west of Havana, has 59 approved businesses, of which 34 are in operation and six are in the reinvestment phase after terminating their contract.

The sketches of the new portfolio of opportunities respond to strategic axes of the National Economic and Social Development Plan until 2030: productive transformation and international insertion, natural resources and the environment, infrastructure, and human and science, technology and innovation potentials.

Malmierca explained that from the territorial point of view this business package is distributed among all the provinces and, for the first time, food production is the sector with the highest representation.

Prime Minister Manuel Marrero drew attention to the need to promote foreign investment in a more dynamic way to boost the economy and development of the country, always under the principle of national sovereignty.

“It is necessary to give the priority that this matter takes at the higher levels of management, each one with the role that corresponds to him,” he stressed.

Foreign investment in Cuba is legally protected by Law 118 of 2014 that regulates access to external financing, technologies and new markets, the insertion of national products and services in international value chains and the generation of other positive effects in its domestic industry and in the growth of the nation.

In article 11.1, this legal norm establishes that this activity can be authorized in all sectors, with the exception of health and education services for the population, as well as armed institutions, except for the business systems of these three branches.

(C) Cuba TV, Cuban state owned media.
[1] Url: https://www.canalcaribe.icrt.cu/en/portfolio-update-of-opportunities-for-foreign-investment/

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