The community of businessmen Spaniards in Cuba, made up of nearly 300 members, maintains a “firm” commitment to the island marketaccording to the organization that represents them.
During the recently concluded Havana International Fair (FIHAV)Joaquín Samperio Sañudo, president of the Association of Spanish Entrepreneurs in Cuba (AEEC), commented that this relationship is based on decades of joint work and trust in the country’s economic potential.
In his personal case, he said, the link with the Caribbean nation is personal and professional.
“I remain for my company, for family reasons and because I consider myself one of the locals,” He stated in statements to the newspaper Granma.
Transforming opportunities and a growing private sector
Samperio pointed out that “Cuba has always been a market of opportunities”although he stressed that its structure is changing.
He explained that business work, previously focused mainly on the State, has diversified towards a growing relationship with private actors, a segment that he described as “incipient”, but that “is developing very strongly.”
In his opinion, the sectors of greatest potential continues to be tourism, agriculture and industrywith emphasis on the need to attract more agricultural investment for both export and domestic consumption.
Regarding the package of measures recently announced by the Government To boost foreign investment, the president of the AEEC expressed an open position.
“Any measure, any initiative that is taken, I think it can be very positive,” he commented, adding that he perceives institutional will to stimulate the arrival of foreign capital.
Cuban government announces flexibility in foreign investment
Spanish entrepreneurs at FIHAV 2025
Within the framework of the Havana International Fair, Samperio highlighted that Spain was once again the country with the greatest business presence.
However, participation shows a significant drop compared to previous years.
This year, Spain occupied four pavilions with 38 counters at FIHAV, a far cry from the more than 150 companies present in 2017 and the 63 that participated in 2024, according to data managed then.
Even so, Samperio insisted that the Spanish presence is a clear message: “We are here, we are reliable companies, that have been there in good and bad times and that “We want to continue here.”
Cuba’s debt with Spain
The outlook for part of the Spanish business community is conditioned by debts accumulated by the Cuban Government.
According to sources such as Promotion of TreballCuba owes more than 350 million euros to almost 300 Spanish companies, most of them small and medium-sized firms dedicated to the export of food, medical supplies, hardware, spare parts and industrial products.
The platform that brings together those affected warns that more than 15% of these companies face the risk of closure due to the impossibility of collecting payments since 2018.
In parallel, the Cuba’s total debt with Spain amounts to almost 2000 million eurossomething described by Madrid as “difficult to solve.” To try to manage it, the Spanish Government launched a Debt Conversion Program in 2025 that will allow up to 375 million euros to be used to finance projects on the island.
The AEEC as an economic bridge
The Association of Spanish Businessmen in Cuba, a multi-sector organization that brings together the vast majority of Spanish businessmen in the country, maintains its work to promote economic and commercial exchange between both governments.
In a scenario marked by financial challenges and lower business participation, the entity insists on its role as a stable bridge for sustain and expand economic ties between Spain and Cuba.
However, despite the discourse of permanence on the part of the business community based in Cuba, global data show a more challenging scenario.
According to a report on Spanish investment in Latin Americaonly 1% of Spanish businessmen today consider Cuba as a priority destination to invest in an increasingly competitive international context and given the severe crisis suffered by the island.
