
{"id":273189,"date":"2023-07-22T19:31:06","date_gmt":"2023-07-22T23:31:06","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=273189"},"modified":"2023-07-22T19:31:06","modified_gmt":"2023-07-22T23:31:06","slug":"cuba-arranged-more-than-300-businesses-with-foreign-capital","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuban-economy\/cuba-arranged-more-than-300-businesses-with-foreign-capital\/","title":{"rendered":"Cuba arranged more than 300 businesses with foreign capital"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Businesses arranged with <\/span><a href=\"https:\/\/oncubanews.com\/en\/tag\/foreign-investment-in-cuba\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">foreign capital investment in Cuba<\/span><\/a><span style=\"font-weight: 400;\"> amounted to 327 until last May, as reported by the Economic Affairs Commission of the <\/span><a href=\"https:\/\/oncubanews.com\/tag\/asamblea-nacional-del-poder-popular\/\"><span style=\"font-weight: 400;\">National Assembly of People\u2019s Power (ANPP),<\/span><\/a><span style=\"font-weight: 400;\"> which met this Wednesday in Havana.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ricardo Cabrisas, Deputy Prime Minister and Head of Foreign Trade and Foreign Investment (MINCEX), explained to the parliamentarians that these agreements have been signed with businesspeople from more than 40 nations, according to a <\/span><a href=\"http:\/\/www.acn.cu\/cuba\/111225-concertados-en-cuba-mas-de-300-negocios-con-inversion-extranjera\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\"> by the Agencia Cubana de Noticias (ACN) news agency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the update on this strategic activity for the development of the Cuban economy, the minister specified that of the presented volume, 167 businesses correspond to administration contracts, 106 to joint ventures and 56 are totally foreign capital.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Among the countries that have invested the most in the island, Cabrisas mentioned Spain, Italy, Panama, Canada, Mexico, Vietnam, China, Australia, the United Kingdom, Germany and France, the report added.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"SzxozCETWQ\"><p><a href=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/foreign-direct-investment-in-cuba-a-contribution-to-national-development\/\">Foreign Direct Investment in Cuba: a contribution to national development<\/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=\"&#8220;Foreign Direct Investment in Cuba: a contribution to national development&#8221; &#8212; OnCubaNews English\" src=\"https:\/\/oncubanews.com\/en\/cuba\/economy\/foreign-direct-investment-in-cuba-a-contribution-to-national-development\/embed\/#?secret=FUYj2O2C0Q#?secret=SzxozCETWQ\" data-secret=\"SzxozCETWQ\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">He also clarified that these businesspeople have had to overcome the growing financial and economic sanctions imposed by the U.S. administration against Cuba, and the effects of being included on the list of state sponsors of terrorism.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, he acknowledged that internal deficiencies persist to speed up the process, some linked to bureaucratic procedures that delay the approval of the proposals, as well as a lack of preparation of officials in entities and territories.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The minister assessed the figures corresponding to the first half of 2023 as a \u201cdiscreet recovery,\u201d with the agreement of 18 businesses, six of them hotel administration contracts (and marketing), covering more than 55,000 rooms.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to the tourism sector, he revealed that there are currently businesses with the participation of foreign capital in exports of nickel and cobalt, as well as lead and zinc; in the commercialization of Premium and mechanized cigars, production and commercialization of rums, as well as in the production of oxygen and industrial gases and power generation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Businesses related to the supply of liquefied natural gas to the capital, production of beer, soft drinks, water, wheat flour, meat products, confectionery and coffee were also mentioned; as well as the production of containers, toiletries and hygiene products, furniture, and telecommunications services.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cabrisas called for a greater participation of foreign investment in the development of municipalities, due to its contribution to exports, based on the increase in its added value, the promotion of exportable funds and the recovery of productions, the publication highlighted.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Economic Commission for Latin America and the Caribbean (ECLAC) recently recognized that in 2022 foreign direct investment on the island had shown slight signs of improvement, establishing 35 new businesses, 18 more than in the previous year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Agreements in various sectors that have recently opened up to attracting foreign capital, as is the case of retail trade, or in others such as agriculture, in which despite the possibilities included in the most up-to-date business portfolio, still have not taken off.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In February of this year it emerged that only five projects of this type were constituted in Cuban agriculture from a group of 30 that are going through one of the approval or negotiation phases.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>These agreements have been signed with businesspeople from more than 40 nations, especially Spain, Italy, Panama, Canada, Mexico, Vietnam and China, among others.<\/p>\n","protected":false},"author":3134,"featured_media":273191,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13904],"tags":[14816,17876],"ppma_author":[33546],"class_list":["post-273189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuban-economy","tag-cuban-economy","tag-foreign-investment-in-cuba"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba arranged 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