The Cuban Government announced a series of “important decisions” aimed at promoting foreign investment on the island, while ratifying that Cubans residing abroad have the same opportunities as any foreign investor to do business in Cuba.
Among the measures announced, the creation of new special development zones, the simplification of business approval processes, incentives in the real estate sector, the autonomous hiring of the workforce and access to the purchase of fuel and its import stand out.
“New business models are introduced, the possibility for investors to use underutilized Cuban facilities is included, and the creation of new special development zones is also intended,” shared on his networks Cuban television journalist Lázaro Manuel Alonso, who reports what happened at the Investment Forum, in the context of the Havana International Fair (FIHAV).
In addition, “changes are introduced in the hiring of the workforce.”
In this way, now the employer would participate in the selection of its workforce, and on this point “bonuses in foreign currency are authorized.”
“Investors will be able to trade wholesale with economic actors, without restrictions” and “they will also be able to access the purchase of fuel in foreign currency and the possibility of direct import of fuel is included if necessary,” says the source.
The measures were announced by Oscar Pérez-Oliva Fraga, vice prime minister and head of Foreign Trade and Foreign Investment, who, according to Granmahad already advanced these announcements during the opening of FIHAV yesterday.
In addition, “the processes for approving new foreign investment businesses are simplified, for which the organizations will have 7 days to evaluate the proposals and, if they do not respond within the expected time, it will be understood that the response is positive.”
Pérez-Oliva explained yesterday that the Havana Fair opens its doors with the participation of 715 companies representing 52 countries, from all continents, including 268 Cuban companies from various sectors and forms of management.
The inauguration was attended by Miguel Díaz-Canel, Prime Minister Manuel Marrero Cruz and other senior Cuban officials.
