ES / EN
- January 27, 2023 -
No Result
View All Result
OnCubaNews
  • World
  • Cuba
  • Cuba-USA
  • Opinion
    • Columns
    • Infographic
  • Culture
    • Billboard
  • Sports
  • Styles / Trends
  • Media
  • Special
  • Cuban Flavors
  • World
  • Cuba
  • Cuba-USA
  • Opinion
    • Columns
    • Infographic
  • Culture
    • Billboard
  • Sports
  • Styles / Trends
  • Media
  • Special
  • Cuban Flavors
OnCubaNews
ES / EN
Home Cuba Economy Foreign investment in Cuba

Mariel Special Zone attracts all-time foreign investments in 2018

by EFE, EFE
November 4, 2018
in Foreign investment in Cuba
0
Stand of the Mariel Development Zone in the Havana International Trade Fair (FIHAV 2018) on Tuesday October 30. Photo: Ernesto Mastrascusa / EFE.

Stand of the Mariel Development Zone in the Havana International Trade Fair (FIHAV 2018) on Tuesday October 30. Photo: Ernesto Mastrascusa / EFE.

The Mariel Special Development Zone (ZEDM), Cuba’s star project for attracting foreign capital, in 2018 has attracted an all-time 470 million dollars’ worth of investments, the heads of that zone reported.
The figure, which corresponds to the capitals committed since November 2017 to date, supposes a strong advance compared to the average of four years ago of some 300 million dollars a year, according to data given this Tuesday by Wendy Miranda, director of the ZEDM’s One-Stop Window System.
During the opening of a business forum in the Havana International Trade Fair (FIHAV 2018), the representative of the Special Zone offered the annual balance of this macro industrial polygon, located some 45 kilometers to the west of the island’s capital.
The ZEDM, whose investments accumulate 1.66 billion dollars since its opening in 2013, has authorized businesses to 41 foreign companies and joint ventures from 19 countries, of which 15 are operating and two already have the installations and the permits to imminently do so.

Empresa cubano-italiana producirá envases en Mariel

One of the companies that plans to start working in a few months is the Spanish Grupo TGT, a cheese distributor.
“We will supply the hotels and individuals in Cuba, although our objective is to export to other countries 50% of our production,” the group’s president, Teodoro García, explained during his presentation at the Havana forum.
Eight Spanish companies from such diverse sectors as logistics, hotels, structures or machinery form part of the 41 that are already working or are planning to operate in the ZEDM, where corporations from Brazil, China, France and Vietnam also play a protagonist role.
The ViMariel S.A. company stands out as the first established with the management concessionary and which develops an industrial park where construction material factories will be installed.
The Cuban government in June gave it a concession for a term of 50 years to project, invest, build, manage and exploit the infrastructure and the creation of an industrial park in the Mariel Special Zone.

Cuba y Vietnam crean primera concesionaria en Mariel

The presence in the ZEDM of the first joint biotechnology company between the United States and Cuba: the Innovative Immunotherapy Alliance (IIA), was also highlighted, which will make it possible to export to the North American country cancer medicines to which it previously had no access.
This recently announced project, created based on collaboration between the New York Roswell Park Center and the Molecular Immunology Center (Havana), will also allow the U.S. institution to have access to four drugs already approved in other countries.
This medicines include the Cimavax, the therapeutic advanced lung cancer vaccine whose effectiveness has been undergoing tests in that scientific institution since two years ago and which Cuba considers one of its major biotechnological achievements.

Authors

EFE, EFE
Tags: Cuban Economyforeign investmentforeign investment in CubaMariel’s Development Special Zone
Previous Post

Panama starts giving Cubans tourism card for 30 days

Next Post

Antonio Gades’ sevillanas in the heart of Havana

EFE

EFE

Next Post

Antonio Gades’ sevillanas in the heart of Havana

Cuba’s GDP will again grow 1 percent in 2018

Final appeals to voters: Obama vs Trump

Leave a Reply Cancel reply

The conversation here is moderated according to OnCuba News discussion guidelines. Please read the Comment Policy before joining the discussion.

Your email address will not be published. Required fields are marked *

Most Read

  • The Enchanted Shrimp of the Cuban Dance

    1476 shares
    Share 590 Tweet 369
  • Biden and Cuba, the good and the bad…these days

    13 shares
    Share 5 Tweet 3
  • What foods can be brought to Cuba and what imports are forbidden?

    375 shares
    Share 150 Tweet 94
  • Family Reunification Parole has not been canceled, U.S. Embassy in Cuba reported

    10 shares
    Share 4 Tweet 3
  • New online form for travelers arriving in Cuba

    41 shares
    Share 16 Tweet 10

Most Commented

    • About us
    • Work with OnCuba
    • Terms of use
    • Privacy Policy
    • Moderation policy for comments
    • Contact us
    • Advertisement offers

    OnCuba and the OnCuba logo are registered® trademarks of Fuego Enterprises, Inc., its subsidiaries or divisions.
    OnCuba © by Fuego Enterprises, Inc. All Rights Reserved.

    No Result
    View All Result
    • World
    • Cuba
    • Cuba-USA
    • Opinion
      • Columns
      • Infographic
    • Culture
      • Billboard
    • Sports
    • Styles / Trends
    • Media
    • Special
    • Cuban Flavors

    OnCuba and the OnCuba logo are registered® trademarks of Fuego Enterprises, Inc., its subsidiaries or divisions.
    OnCuba © by Fuego Enterprises, Inc. All Rights Reserved.

    Exit mobile version