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Tuesday, January 31, 2023

Cuban government approves “foreign investment opportunities”

The Cuban government approved and published its “New Business Opportunities” with foreign investment in the country.

The Ministry of Foreign Trade and Foreign Investment notified new opportunities approved by the Council of Ministers under Law 118 “Foreign Investment Law” of March 29, 2014.

facebook ministry of foreign trade and foreign investment

Overseas Investment Opportunities PortfolioPublished in Official Gazette No. 121 (Ordinary) of December 2, 2022, Cuba includes business opportunities in 17 sectors ranging from agriculture, mining, industry to services such as tourism, which is one of the most preferred.

The sector which offers the most opportunities for foreign investment is related to food productionSince it has 197 propositions. is the second tourism, with 130 and in third place, with 112 offers, the petroleum,

There are also 97 business options related to industrywith 49 diggingwith 21 building19’s transportation and logistics and 18 sugar agribusiness,

A sector that should be one of the most preferred in Cuba’s current energy crisis, but appears with only 16 proposals, are renewable sources of energy,

In wholesale and retail trade There are 9 offers. others are from 8 pharmaceutical and biotech industries and same number of projects Telecom and Computing,

The areas in which the Cuban state will give less incentive with foreign investment are culture (7), professional services (7), hydraulic and sanitary networks (4) financial banking (4) and real estate (2).

signed by the government in November 708 Foreign Investment Agreement (30 more than in 2021) and the total amount of investment was 33.450 million dollars.

Data known after 38th edition of FIHAV (2022). The trade deals, despite being better than last year, are 2 billion less than those agreed in the agreements before the coronavirus pandemic.

World Nation News Desk
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