Cuba approves Law for Mariel special development Zone
The Council of State of Cuba, met on Thursday in the capital and passed a Decree/Law for the Mariel Special Development Zone, destined to become the main import/export gateway for Cuba’s foreign trade, said Granma newspaper. In addition to the law, the Official Gazette will publish in the coming days the port’s regulations with seven complimentary resolutions. The entire package will come into effect on November 1. The Mariel Zone,the first of its kind in Cuba, will have a “special policy” in order to “encuorage foreign and domestic investment, technological innovation and industrial concentration.” The Zone will be off-bounds to Cubans not involved in the production, commerce or the supplying of services.
The first of the facilities are expected to begin operations in January 2014, including the first 700 meters of quay, said the note.