The technical and development director of the Industrial Products and Services Marketing Group, Raúl Delgado Rodríguez, explained that the policy seeks to create and encourage wholesale and retail markets, not only for economic lines destined for the population, but also for intermediate goods that allow the reactivation of the economy.

As a result of the approval of the policy and in a period of two weeks, the OSDE has served more than 16 foreign entities with manifest interest and another group of companies waiting to be served is registered, the manager pointed out:

“We exchange with investors from countries as diverse as Vietnam, United Arab Emirates, Canada, Russia; Spain, Italy and India. In South America we also met with businessmen from Argentina and Uruguay”.
In business forums promoted by the Ministry of Foreign Trade and Foreign Investment together with the Chamber of Commerce of the Republic of Cuba, the company ALBUS S.A, belonging to the OSDE, marketer of industrial products and services, launched six projects in its portfolio. With these, the establishment of fabric markets, wholesale and retail distribution of economic line goods, as well as logistics operations of dry and refrigerated foods, among others, is sought.

Delgado Rodríguez announced that there are some fairly immediate projects, “a platform with electronic sales similar to the Katapulk and Supermarket23 modality is being set up with the advantage that all the food and products to be marketed are in the country and thus avoid the importation of goods. ” He added that they are working on another project for wholesale marketing.

“I am talking about Gran Ferretero S.A, the first joint venture approved by the Ministry of Domestic Trade and which should start operations before the end of 2022. A company for the marketing of hardware items in its broadest concept and of materials from the building. This entity will allow MSMEs to acquire resources and products for the development of their enterprises”.

Delgado Rodríguez pointed out that since the conception of the policy, the integration of national production has always been conceived and even includes the modality of pre-financing of some productions by the foreign part.

“In each of the negotiations we have made clear Cuba’s interest in inserting the national industry into these projects and it has not been a matter of conflict at all. All entrepreneurs show their agreement to include national productions in their projects and that will allow them to lower costs in the transportation of goods”.

The new legal provisions will make it possible to link the different actors in the economy with foreign companies. It will be one more opportunity for the Cuban economy to reactivate and in the future there will be, in the Cuban market, a greater presence of a group of lines.

(Taken from Rebel Radio)

Through the Twitter account of the Presidency, it was indicated that the president thanked the Italian friends for the meeting and listened to proposals and concerns regarding foreign investment.

“In the midst of these difficult circumstances, that you come says a lot about your commitment and understanding with Cuba,” he said.

The representatives of the European country expressed the importance of the friendship between both countries and the will to help.

“We did not come to criticize, but to find solutions,” they declared before the highest leadership of the Antillean nation.

Also present at the meeting were Manuel Marrero Cruz, Prime Minister of Cuba, and Alejandro Gil Fernández, Deputy Prime Minister and Minister of Economy and Planning.

Marrero Cruz confirmed to the Italians that updating the country’s economic and social strategy includes foreign participation, with which Cuba is open to hearing proposals.

Relations between the two nations have been strengthened in recent times, as demonstrated by the meeting between Díaz-Canel and Marcos Papacci, president of the National Italy-Cuba Friendship Association (ANAIC), on August 21.

At that time, the Cuban head of state thanked the largest of the Antilles for its support in confronting the demonstrations against Cuba, when the events of the Hotel Saratoga and the help received during the tragedy of the fire in Matanzas.

(With information from ACN)

Jorge pointed out the portfolio of opportunities that, first presented in 2014, has grown to over 500 projects, practically covering all sectors of the economy.

Between 2017 and 2018, businesses approved for investment exceeded two billion dollars each year and, although in 2019 that figure was not reached, the numbers were around 1,800 million dollars, Jorge recalled.

During 2020, he added, almost 30 businesses were authorized and the investment values involved exceed two billion dollars.

Currently, the executive said, we have two priorities for everything that is done with foreign investment, and the first is that projects should contribute to increasing exports.

Another sector of importance is the generation of electricity from renewable energy sources, with their respective contribution to the Cuban environmental commitments, and about energy sovereignty.

The other is food production, since the State devotes considerable amounts of foreign currency each year to the acquisition of foodstuffs. The main goal is to reduce imports of these products.

(Taken from Prensa Latina)

Malmierca reported that, November 3-8, more than 50 countries will be represented at this edition of the Havana International Fair (Fihav-2019) and for the first time, companies from all the provinces of the country will have exhibits in the Cuban Pavilion – a reflection of the nation’s efforts to promote exports.

As is customary, an Investment Forum will be held and the new Foreign Investment Opportunities Portfolio presented. Additionally, three events organized by Germany, Mexico, and the European Union will take place, “demonstrating the interest of the international market in investing in Cuba, despite the activation of Title III of the Helms Burton Act,” Malmierca noted.

During the Fair, the “single window” plan for international commerce will be introduced, an initiative to computerize and simplify procedures related to the country’s import-export process. Likewise, the 2019-2020 Business Directory will be presented, and other events to be held in the coming months announced.“We are expecting visits by 14 official delegations headed by Ministers and other high-ranking authorities; and we will hold 15 national days to highlight specific delegations joining us.”The efforts of the United States government to isolate us and create problems for our economy will fail, and the Fair will once again demonstrate the confidence of international business in the Cuban market,” the Minister insisted.Orlando Hernández Guillén, president of the Chamber of Commerce of Cuba, reported that some 152 national exhibitors will participate on the Cuban side, representing more than 360 companies on the island. This time, he added, the Mariel Special Development Zone will move to its own pavilion, since more than 30 companies based in this area are participating.“We will have all provinces and all sectors of the economy present. For the first time, two non-agricultural cooperatives will promote their products through the export channels provided by the country’s state enterprises dedicated to carrying out this process,” Hernández added.More than 40 business delegations and promotional organizations from around the world will flood the ExpoCuba fairgrounds during Fihav 2019. Some seven special interest forums are being organized, as well as meetings of the Enterprise Committee.For his part, Abraham Maciques, general director of the Palco Group and member of the organizing committee, explained that 23 of the fairground’s 25 pavilions will be used. To date 15 official pavilions are planned, and the accreditation of more than 2,000 international business reps, including several from the United States.Comparing the event with previous years, he stated, “With respect to 2018, we will have the same level of participation and expect this to be a good fair, during which cooperative commercial agreements are established.”This year’s Fair will be dedicated to the 500th anniversary of Havana, and all international visitors will have the oppportunity to get to know the city through a well-planned cultural and business program, said Luis Carlos Góngora Domínguez, vice president of the directorate.“Celebrations for Havana’s anniversary will take place Tuesday, November 5. That day, the city’s Busness Forum will be held, a space to find business opportunities and present the industrial potential of Havana.”There will also be presentations of audiovisuals, books, and a whole series of collateral activities, intended to invite Fihav 2019 attendees to celebrate the city’s 500 years in the month of November,” he concluded.

(Granma)

Legislators learned that the portfolio of business opportunities promoted by the Ministry of Foreign Trade and Investment includes more than 500 projects in different sectors, among which tourism stands out.
The introduction of foreign capital in our economy is today an essential part of our development strategy, which is why this is one of the main lines of attack pursued by the United States government, he said. But despite the pressures on international investors and companies in our country, all have maintained a firm position in rejecting the extraterritorial nature of U.S. laws, mainly the Helms-Burton.
“No one has pulled out; some have submitted new projects and have said that they are willing to close businesses elsewhere to stay here, because of the potential to start new projects and security in Cuba,” Diaz-Canel said, explaining that business people know how much we are affected by the tightening of the criminal blockade and financial persecution, but they have confidence in the commitment of the Revolution’s leadership to fulfill obligations.
The President emphasized the need to attract capital, technology, and knowledge to advance economic growth. “We will not invest in just anything, but in key, prioritized sectors, very well defined in Cuban law, always defending our sovereignty and independence.”

Prior to the President, Ministers Eduardo Rodríguez Dávila (Transportation), Betsy Díaz Velázquez (Domestic Commerce), Manuel Marrero Cruz (Tourism) and Deputy Minister of Communications Ernesto Rodríguez reported on joint ventures in their sectors, currently providing mutual benefit, while difficulties were also recognized, such as delays in responding to international investors, in processing and documentation, and insufficient experience in contracting the purchase raw materials.

Nonetheless, investors continue to show interest in Cuba, given citizen security here; our highly qualified workforce; and the population’s human values ​​, including commitment and dedication to professional activity.

(Granma)

The project, with a precedent at the Mariel Special Development Zone, “will eliminate bureaucracy and delays that exist when granting the required permits, licenses, and authorizations, to facilitate foreign investment in Cuba,” stated Deborah Rivas, deputy minister of Foreign Trade and Investment (Mincex).

Among the services that this one-stop office will provide are consultancy, information, and advice to facilitate businesses set up, and the processing of registrations and licenses, as well as following company operations, she added.

New legal regulations are being drafted toward this end, which, in addition to containing the rules governing this entity, will include deadlines and unique procedures to be carried out, as well as necessary information to accompany investors at every stage.

This new legislation will be accompanied by a computer system that will connect the country and the world, and allow interested parties to follow procedural processing progress.

The one-stop services offices with be linked to this virtual space. The entity will have a director general subordinate to Mincex general management; and will also employ specialists in foreign investment, promotion, procedures, and document management technicians.

This working group will also be permanently accompanied by officials of the Institute of Physical Planning, the ministries of Construction; Science, Technology and Environment; the Interior; and Justice; as well as the national offices of Tax Administration and Statistics.

One of the most important results was reaching a consensus between this portfolio and that of Foreign Trade and Foreign Investment of Cuba to complete the negotiations on a bilateral trade agreement as soon as possible, said Tuan Anh, who was part of the delegation that was in the island.

The two sides will review the legal framework to sign the agreement as soon as possible in order to promote trade, joint productions, investments and access to the respective markets, he stressed.

Noting that Vietnam has become the second largest partner of Havana in Asia after China, with billings in both directions of over 220 million dollars, the minister pointed out that his country has an important role in the development strategy of the Caribbean nation.

During the visit of Nguyen Phu Trong, Cuba granted investment licenses to several Vietnamese companies in tourism, construction of power plants and agriculture, he explained.

In addition, he added, a series of agreements was reached in several areas, from education and training of personnel, justice and technology to the environment.

He also expressed that the Vietnam-Cuba business forum brought together over a hundred companies from both sides that examined other areas with high potential for cooperation, for possible productive, investment and technology transfer projects.

(Cubadebate)

Cuba has called for Latin American and Caribbean vision in the implementation of the 2030 Agenda for Sustainable Development, approved by the General Assembly of the United Nations.

The statement was made by the Minister of Foreign Trade and Foreign Investment (MINCEX), Rodrigo Malmierca, who heads the Cuban delegation to the 36th session of the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), which concluded Friday.

The Cuban representative stressed that the main challenge is to transform the commitments made by the international community into reality. Malmierca announced that Cuban authorities have offered to host the next session of ECLAC, to be held in 2018.

During his stay in Mexico, the Minister met with Mexican Minister of Foreign Affairs, Claudia Ruiz Massieu and the Mexican Secretary of Economy, Ildefonso Guajardo.

At these meetings, they discussed the state of relations between both countries and about their mutual interest to continue to boost economic, trade and cooperation.

(Radio Habana Cuba)