Havana, May 30 (RHC)—As part of the efforts underway to encourage foreign investment, Cuban authorities announced that beginning 2020, a new mechanism will be established to attract more business and investment growth.

The “Single Window” project seeks to eliminate current red tape and delays with regard to the issuing of permits, licenses and authorizations required to facilitate foreign investment on the island, said Deborah Rivas, vice minister of Foreign Trade.

The services the one-stop  shop will include consultation, advisory, expediting the setting up of businesses and the processing of records and licenses, as well as a follow-up of the functioning of the newly established businesses.

In order to achieve this, a new legal norm is being drafted. The new mechanism will be made available through a web based system that will connect the country and the world, and allow interested parties to be informed about the progress of their request.