Cuba inaugurates foreign investment office in Havana

Cuba inaugurates foreign investment office in Havana

HAVANA, Nov 3 ( PL) Cuban trade authorities on Tuesday inaugurated the headquarters of the Single Window for Foreign Investments (Vuinex) in Havana, in order to facilitate that kind of operation in the country.Foreign Trade and Foreign Investment (MINCEX) Minister Rodrigo Malmierca expressed satisfaction at the opening event, which was attended by executives, officials and foreign representatives in Cuba.

He noted that since January 2020, the Single Window has been operational, and more than 130 foreign investment procedures had been processed until October, in addition to 50 requests in that regard.

The Vuinex is aimed at facilitating procedures to speed up permanent transactions to do business in Cuba. An electronic platform for the new tasks will be available soon.

Malmierca pointed out that this office is part of the economic and social model for Cuba’s socialist development, and the National Development Plan until 2030, among other basic elements. He recalled that in 2014, by virtue of Law 118 on Foreign Investment, new relevant businesses were done, but they do not meet the country’s demands yet.

Despite those efforts, the United States has stepped up its obstacles against Cuba (blockade), especially in the economic, financial and commercial sectors.

The Vuinex facilitates foreign investments, reduces the periods for authorization and boost trade, among many tasks.

The Single Window is headed by Anabel Relova, who expressed satisfaction with the opening of its headquarters.