Cuba contracts $ 2 billion in investments during 2017

Cuba contracts $ 2 billion in investments during 2017

HAVANA, Dec. 21 (Xinhua) – Cuba received about $ 2 billion in investments this year, the Ministry of Foreign Trade and Foreign Investment reported today during the debates of the Economic Affairs Committee of the National Assembly of People’s Power (Congreso ) of the island.

Before deputies gathered at the Havana Convention Center, Déborah Rivas, an official of the Ministry of Foreign Trade and Foreign Investment, explained to local radio station Radio Reloj that “today that is not a necessary evil, but an active element for economic development. ” from the country.

After referring to the Portfolio of Opportunities, presented last November, which contains 456 business projects for 10.700 million dollars, Rivas said that 80 investment programs are underway with the possibility of materializing next year.

Another 15 plans, he said, are in the negotiation phase, which exceeds 900 million dollars and are related to the energy, industry and construction sectors.

He also noted that there are problems that hinder the progress of these processes, such as the monetary and exchange duality on the island, the effects of the economic, financial and commercial blockade imposed by the United States and the delays in the procedures.

When debating the report of the Investment Board, the deputies demanded greater agility in the study of pre-feasibility of the business and that the socialist state enterprise maintains the leading role in the negotiations.

This is the second working day of the 10 permanent committees of the legislative body, without access to the foreign press, during which the Supreme People’s Court and the Attorney General of the Republic gave an account of their management.

For Thursday a plenary meeting of the parliament is planned, integrated by more than 600 deputies, meeting that corresponds to the X Ordinary Period of Sessions of the VIII Legislature, which finishes its work after five years of work.