Cuba facilitates foreign investment in wholesale and retail trade

Domestic Trade Minister Betsy Diaz explained that this is an opportunity to gradually eliminate the shortage the country is going through, as the main projects so far were aimed at the production of goods and services and not those related to trade, a situation that is already changing with the establishment of companies in the consignment modality.

Upon explaining the possibility of foreign investment in the commercial activity, Diaz stated that in the case of the retail trade, only the joint ventures and the international economic associations were approved, and for the wholesale trade, these two variants and the entities with totally foreign capital will be also authorized as long as they are feasible and beneficial for the country.

Speaking on national television, the minister reiterated that these measures will selectively promote these organizations under the foreign investment law to carry out retail and wholesale trade activities, which will make it possible to achieve greater efficiency in this sector.

The new possibilities for foreign investment will favor companies with branches and representation in Cuba, with a long history in the country, now interested in the wholesale and retail trade.