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Cubans living abroad with investment possibilities in the country

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Cuban government ratified on Tuesday, the will that its residents abroad can invest in the Caribbean country and participate in the nation’s economic development, during the Havana International Fair 2022 (FIHAV).

At the opening of the 5th Business Forum at Expocuba, Rodrigo Malmierca Diaz, Minister of Foreign Trade and Foreign Investment, said that Cuba has never put up obstacles on that way, only the economic, commercial and financial blockade of the United States and laws such as Helms-Burton lift restrictions.

Malmierca Diaz stressed that the important thing is to find ways and business modalities in which to move forward.

Malmierca Diaz stated that if the meetings underway are successful, there will be a boom in investment in 2023 that will help the national economy, with 50 new projects for a capital of 9 billion dollars.

He stated that the activity is gradually returning to the numbers of authorized contracts, for the amount of 402 billion dollars, after the stoppage due to the COVID-19 pandemic.

The Government is strengthening relations with businessmen for the benefit of the prioritized sectors, such as the agri-food sector for the diversification of projects, the use of installed capacities and interaction with different forms of management.

As part of its development strategy, Cuba updated its sectoral policy with the consolidation of the Single Window for Foreign Investment (Vuinex), a computer system where businessmen can process all their affairs.

The minister also referred to the new opportunities that have resulted from the approval of foreign investment businesses in the wholesale and retail trade to capture resources and expand access to supply markets.

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