Cuba Inaugurates Headquarters of the One-Stop Foreign Investment Window

Cuba opened Tuesday in Havana the permanent headquarters of the One-Stop Foreign Investment Window (VUINEX by its Spanish acronym) in the presence of Cuban authorities and representatives of international organizations.

Rodrigo Malmierca Diaz, head of the ministry of foreign trade and foreign investment (MINCEX), affirmed that since 2014, when the Foreign Investment Law was issued, the levels of attraction of foreign capital have been increased, but they are still below the development needs and the potential of the country.

In recent years, Cuba’s international insertion has been marked by the tightening of the blockade imposed by US, made worse by the increase in financial persecution and the activation of Title III of the Helms-Burton Act, as well as other difficulties that hinder the implementation of foreign investment projects, he said.

These elements reinforce the importance of having a one-stop system, which is internationally recognized as an indirect incentive for foreign investors, Malmierca Diaz added.

VUINEX is an expression of the government’s determination to eliminate the obstacles that hinder the nation’s economic development, facilitate the establishment of investors, simplify procedures and shorten the time frame for the approval of permits, licenses and authorizations.

The ceremony was attended by Ricardo Cabrisas Ruiz, deputy PM; Consuelo Vidal-Bruce, United Nations resident coordinator in Cuba; Maribel Gutierrez, permanent representative of the United Nations Development Program (UNDP); and Juan Garay, head of cooperation of the European Union office in Cuba.