Rodrigo Malmierca, Cuban minister of Foreign Trade and Foreign Investment, presented today Cuba’s 2019-2020 Opportunities Portfolio, which consists of 460 projects, 47 of them at the Mariel Special Development Zone (ZEDM).
The launch was held during the opening of the 4th Investment Forum, at the 37th Havana International Fair, FIHAV 2019, running from November 4-8 at Expocuba fairgrounds.
Malmierca explained that most of the portfolio’s businesses correspond to strategic sectors for Cuba, such as tourism (116), oil (114), agro-food (81, including 11 in the ZEDM) and industries (32, including 21 in the same zone).
Other sectors present in the portfolio are mining (15), construction (14), renewable energy (10), as well as pharmaceutical and technological, and transport, the latter with six.
According to Malmierca, the total investment is 11.745 billion dollars and explained that, although there are supposedly fewer projects, the capital to be invested is greater.
The new portfolio creates new opportunities for productive chains, because foreign investment has to be linked to domestic industry, which will help import substitution, the Cuban minister added.
He also highlighted the measures adopted to ease the investment approval processes, and announced that on January 3, 2020; they intend to implement the Single Window for Foreign Trade.