Cuba remains open to new investments

     By Roberto Morejon

Finding ways to increase business with foreign investors is one of Cuba's objectives. In this regard, Prime Minister Manuel Marrero offered details to Angolan businessmen.

During a working visit, the Prime Minister explained the potential of his country, the streamlining of approval mechanisms for projects with those who bring capital and technology, and insisted on achieving sustainability.

Political relations with Angola are historical and solid, although they can still be expanded in the economy.

It is no coincidence that the Head of Government met with local businessmen to identify viable areas of cooperation, currently important in the health, construction and education sectors.

The largest of the West Indies insists before its virtual partners on the extent of legal facilities and incentives to welcome investments, in spite of the difficulties its economy is going through.

The iron blockade and the inclusion of Cuba in a list of countries that the United States considers to be sponsors of terrorism have exacerbated material shortages and the deterioration of the population's standard of living in the archipelago.  

The U.S. siege discouraged attempts by foreign businessmen to settle here, but the Caribbean nation designed a program of general objectives to stabilize the macroeconomy and correct what the government calls internal distortions.

Among the lines to be followed are curbing inflation, which reached 30 percent last year, generating more foreign exchange revenue, and encouraging domestic production and exports.

To that end, proposals for foreign investment are welcome, hence the promotion of conferences, bilateral meetings and trade fairs, such as two held in Havana this year in the industrial and food sectors.  

The largest of the Antilles offers to those abroad interested in sectors of the domestic economy, the training of its human capital, the level of its scientists and the facilities of the Mariel Special Development Zone, west of Havana.

For Angolan businessmen and other nationalities, there are sectors with investment opportunities in this Caribbean country, such as food production, tourism, energy and biotechnology. 

Today, Cuba is developing 352 companies with foreign capital and is achieving success in sensitive sectors such as tourism, rum and nickel production and marketing, although there is still much to be done in other areas of its business portfolio.