The Government of Cuba ended this Friday the 38th edition of the Havana International Fair (Fihav) with the commitment to reduce the “obstacles that may hinder the business climate” on the Island.
During the closing ceremony, the interim Minister of Domestic Trade and Foreign Investment, Ana Teresita González, stressed that the “biggest milestone” of the fair was having the presence of “new economic actors (nearly 6,000 MSMEs have been approved since 2021). and Cubans residing abroad.
Awarded at FIHAV #International Fair #InvestinCuba #FIHAV #businessincuba #Cuba #FIHAV2022 pic.twitter.com/meVdu3dYCH
— FIHAV (@FeriaHabana) November 18, 2022
The island’s main commercial stock market ended with more than 50 agreements signed between island and foreign companies, according to what the president of the Chamber of Commerce, Antonio Luis Carricarte, told state television. In total, 402 Cuban companies were present, 76 of them MSMEs, as well as delegations from 62 countries with a total of 450 companies.
The Organizing Committee recognized the pavilions of South Africa, Italy, Venezuela and Mexico “for the quality of the design and the massive participation of companies in them”, according to the Cuban News Agency (ACN).
The Mexican pavilion -with 40 companies- received special attention from the island Executive, which has been in good harmony with the Government of Andrés Manuel López Obrador.
On the last day, the VIII session of the Cuba-Italy Business Committee (CICI) was held, which was held at Expocuba. According to statements by Carricarte, quoted by the Cuban agency, the European country is the ninth in commercial exchange, the seventh in the issuance of tourists and occupies an important place in collaboration, “all of which is the result of systematic work and vision of that body created in 2011”.
The president of the Chamber of Commerce stressed that 45 Italian branches and 17 joint ventures are located on the Island. More than 70 entities participate in this edition of the Fair.
Cuba took advantage of the framework of this trade fair to present, as it usually does at this event, its portfolio of investment opportunities with 708 projects, 30 more than in 2021, in which the food production sector monopolized 197 of them.
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280 foreign companies from some 40 countries operate on the Caribbean island, including Spain, Canada and China, says a report from efe.
The Cuban government has relaxed its regulations to attract foreign capital in different areas of the economy, in the midst of a deep crisis and the lack of foreign currency in circulation, a situation exacerbated by the pandemic, US sanctions and errors in economic management .
Efe/Acn/OnCuba.
