Granadillo explains the country's decision to authorize foreign investment in wholesale and retail trade.

Havana, Oct 4 (RHC) Cuba's First Deputy Minister of Economy and Planning, Mildrey Granadillo, presented on Monday in Ecuador the business opportunities with our country before Ecuadorian and Cuban businessmen based in that South American nation.

She explained the improvement of the economic scenario includes for the first time among its actors the micro, small and medium-sized private and state-owned enterprises (MSMEs).

The official said that the challenge now is to recover the level of economic activity lost during the Covid-19 pandemic, and specified that the priority is to bring in foreign currency.

"To achieve this objective, foreign investment is essential, for which the Cuban government has adopted measures to guarantee the return of foreign capital destined to businesses," she added.

She also referred to the decision to authorize foreign investment in wholesale and retail trade.

Several businessmen present at the meeting showed interest in starting or expanding their businesses on the island in areas such as food production and the import of equipment and spare parts for means of transportation, as well as the sale of Cuban products in Ecuador.

Among the issues discussed was the impact on the financial system of the blockade imposed by the United States on the Caribbean nation, which hinders payments and transfers between Cuba and Ecuador, although alternatives are being sought.

The vice minister expressed to Prensa Latina her satisfaction with the exchange, in which the interests of Cuban and foreign businessmen were largely aligned with the strategic objectives for the development of the Antillean nation.

Granadillo is on a working visit to Ecuador, where she participated last week in the XIV Ministerial Forum on Development of Latin America and the Caribbean, and later held meetings with representatives of the Ecuadorian government. (Source: PL)