Foreign investment in Cuba, perspectives of Law 118
After almost a full semester of application, the Foreign Investment Law begins to demand new administrative and legal changes . This is confirmed by three complementary regulations published by the Official Gazette, which regulate wages in this activity, the tax rate on a portion of its workers, and operation of the employing agencies. During the sessions of the National Assembly of People's Power, Cuban deputies received information about the current state and prospects of implementing the law. Deborah Rivas, Director General of Investment of the Ministry of Foreign Trade and Foreign Investment (MINCEX by its Spanish acronym), explained that the actions are aimed at what the Cuban side can resolve by itself beyond obstacles such as blockade, lack of hard currency and previous years failures. This basically tries to eliminate bureaucratic obstacles and renegotiate and liquidate debts with foreign partners. In this regard, Rodrigo Malmierca, MINCEX head, noted that the main promoters for getting foreign capital are those investors who are already settled here. Rivas insisted on the proactive role to be played by national counterparts to finalize the initiatives presented to the Office. "We do nothing with having organized politics, updated standards, lower approval time, if we fail in...