{"id":199439,"date":"2019-05-26T17:32:23","date_gmt":"2019-05-26T21:32:23","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=199439"},"modified":"2019-05-26T17:36:01","modified_gmt":"2019-05-26T21:36:01","slug":"diaz-canel-insists-on-the-importance-of-foreign-investment","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/diaz-canel-insists-on-the-importance-of-foreign-investment\/","title":{"rendered":"D\u00edaz-Canel insists on the importance of foreign investment"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cuban President Miguel D\u00edaz-Canel insisted on the importance of <\/span><a href=\"https:\/\/oncubanews.com\/tag\/inversion-extranjera-en-cuba\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">foreign investment<\/span><\/a><span style=\"font-weight: 400;\"> and urged to &#8220;continue strengthening&#8221; its presence in &#8220;all key sectors of the Cuban economy.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The president acknowledged at a government meeting that the introduction of foreign capital in agriculture and the food industry &#8220;has been slow,&#8221; although he said the situation &#8220;has been changing in recent times,&#8221; <\/span><a href=\"http:\/\/www.cubadebate.cu\/noticias\/2019\/05\/25\/reitera-diaz-canel-importancia-de-inversion-extranjera-y-exportacion-en-sectores-clave-de-la-economia\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">according<\/span><\/a><span style=\"font-weight: 400;\"> to the <em>Cubadebate<\/em> website.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, he urged the leaders of these sectors, &#8220;at all levels,&#8221; to &#8220;be more proactive and dynamic in the realization of businesses.&#8221;<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"ZUWYUeSGIH\"><p><a href=\"https:\/\/oncubanews.com\/cuba\/mas-inversion-extranjera-en-cuba-en-2018\/\">M\u00e1s inversi\u00f3n extranjera en Cuba en 2018<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00abM\u00e1s inversi\u00f3n extranjera en Cuba en 2018\u00bb \u2014 OnCubaNews\" src=\"https:\/\/oncubanews.com\/cuba\/mas-inversion-extranjera-en-cuba-en-2018\/embed\/#?secret=1JgaqRkK70#?secret=ZUWYUeSGIH\" data-secret=\"ZUWYUeSGIH\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">At the meeting, new joint ventures were announced, such as Tropical Contramaestre S.A. for the production and processing of fruits and vegetables, for tourism, the domestic market and to export.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also on the negotiation of investment projects, including one in the <\/span><a href=\"https:\/\/oncubanews.com\/tag\/zona-especial-de-desarrollo-mariel\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Mariel Special Development Zone<\/span><\/a><span style=\"font-weight: 400;\">, for the production of chicken and pork, two of the products most demanded by Cubans today and which are in short supply.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These projects, according to the authorities of the Ministry of Agriculture, will contribute &#8220;to replace imports&#8221; and to stabilize their presence in the island\u2019s markets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding the Food Industry, the investment process focuses on the production of products such as coffee, crackers, pasta and yeast production, which will increase up to 3,000 tons per year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since taking office, D\u00edaz-Canel has called for boosting foreign investment on the island, which he considers a &#8220;priority&#8221; and one of the &#8220;most feasible&#8221; ways for economic growth. As a &#8220;good example&#8221; in this direction, <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/diaz-canel-turismo-cubano-es-buen-ejemplo-de-inversion-extranjera\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">he has highlighted<\/span><\/a><span style=\"font-weight: 400;\"> investment in tourism.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The president\u2019s new exhortation comes at a time when the government of the United States approved the activation of Title III of the <\/span><a href=\"https:\/\/oncubanews.com\/tag\/helms-burton\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Helms-Burton Act<\/span><\/a><span style=\"font-weight: 400;\">, which allows filing lawsuits against firms that operate with properties confiscated by the revolutionary government and is a mechanism of pressure on foreign investors in Cuba.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Given this measure, the Cuban authorities <\/span><a href=\"https:\/\/oncubanews.com\/cuba\/cuba-asegura-a-inversionistas-que-aplicara-todas-las-garantias-legales-para-su-proteccion\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">have assured<\/span><\/a><span style=\"font-weight: 400;\"> that they will apply &#8220;all legal guarantees&#8221; to protect the business of foreign companies on the island.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In recent years, Havana has intensified the search for foreign capital to strengthen its deteriorating finances. Cuba requires about 2.5 billion dollars of annual foreign investment to sustain its economy, affected by the crisis in Venezuela, the recent measures of the Trump administration and domestic inefficiency.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cuban President Miguel D\u00edaz-Canel insisted on the importance of foreign investment and urged to &#8220;continue strengthening&#8221; its presence in &#8220;all key sectors of the Cuban economy.&#8221; The president acknowledged at a government meeting that the introduction of foreign capital in agriculture and the food industry &#8220;has been slow,&#8221; although he said the situation &#8220;has been [&hellip;]<\/p>\n","protected":false},"author":3134,"featured_media":199442,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13902],"tags":[18500,17876,5418],"ppma_author":[33546,8689],"class_list":["post-199439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuba","tag-cuban-economy-in-2019","tag-foreign-investment-in-cuba","tag-miguel-diaz-canel-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>D\u00edaz-Canel insists on the importance of foreign investment | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"The president acknowledged in a government meeting that the introduction of foreign capital in agriculture and the food industry &quot;has been slow.&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, 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