Cuba prioritizes and needs foreign investment

Cuba has more than 300 businesses with foreign capital

HAVANA, Oct 27 ( PL)  Cuba prioritizes and needs foreign investment to develop key sectors of the economy, said Rodrigo Malmierca,

Minister of Foreign Trade and Foreign Investment, before the National Assembly of People’s Power.

Malmierca added that foreign capital is gaining importance for the Caribbean island, in need of partners for industrial development, renewable energy and food production.

He said that such purposes face the impact of the United States’ implementation of Chapter III of the Helms-Burton Act, aimed at discouraging foreign investment in the Caribbean island.

He pointed out that despite these pressures, international companies with a presence in Cuba remain and even make new proposals, some of which could be finalized before the end of the year.

The Minister spoke about the new portfolio of opportunities that should be launched in November during the Second Virtual Forum for the Promotion of Foreign Trade and Foreign Investment.

He explained that the purpose is to give a greater role to the provinces, and space to small projects that at the territorial level can be successful and have a local impact.

Rodrigo Malmierca emphasized that Cuba is open to the world, but always in defence of sovereignty and its economic assets and interests.