Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca speaks at the event to announce the 2018 portfolio of opportunities for foreign investment at the 36th Havana International Fair (FIHAV) 2018 in Havana. (Photo: VNA)Havana (VNA) – Cuba on October 31 announcedits 2018 portfolio of opportunities for foreign investment at the 36th HavanaInternational Fair (FIHAV) 2018 in Havana.
The country removed 104 projects from the portfolio asthey are in progress or have found investors while 168 new others were added tothe list, bringing the total number of projects this year to 525 which call fora combined investment of over 11.6 billion USD.
Speaking at the announcing event, Cuban Minister ofForeign Trade and Investment Rodrigo Malmierca said most of the new projectsare in animal husbandry, food, light industry, mechanics and metallurgy,chemicals, tourism and mining.
Tourism accounts for the highest number of project or187, while 45 are located at the Mariel Special Development Zone (ZEDM).
Malmierca further said that Cuba has licensed 40 FDIprojects, valued at 1.5 billion USD, from October 2017 to the end of September2018; 35 of which are in progress. Also during the period, Cuban enterprisesand foreign partners have sealed seven agreements to expand investment orreinvest with a total capital of 100 million USD.
Statistics show that since Cuba issued Law 118 on ForeignInvestment in 2014, the country has lured 175 new FDI projects, worth a total5.5 billion USD, and at the same time, allowed 21 others to be reinvested. Theforeign investors in these projects came from 28 countries and territoriesworldwide.
FIHAV 2018, which takes place from October 29 to November2, draws 2,500 enterprises from 60 countries and territories around the world,including Vietnam. This year’s event features a wide range of activities tocelebrate the 500th founding anniversary of Havana.
First held in 1982, the event is the biggest annual fairof Cuba and one of the largest of its kind in Latin America. –VNA
VNA
