Cuba is calling for foreign investment in 246 projects totaling 8.71 billion USD, according to Cuban Minister of Foreign Trade and Investment Rodrigo Malmierca Diaz.

Among the 11 high priority fields, Cuba will focus on renewable energy, agriculture, mining, construction and tourism, the minister said.

With a target of 2.5 billion USD in annual investment attraction, Diaz acknowledged that it would take time to achieve the figure.

At the recent Business Summit of the Americas in Panama, the minister also reaffirmed Havana’s increasingly open view of foreign investment as an essential element in ensuring economic growth and development.

To attract foreign investment, the Cuban National Assembly approved a law aiming to encourage foreign businesses to pour capital into the country last year, especially the Mariel Special Development Zone.

Located in the west of Havana, Mariel houses Cuba’s first deep-water port. It is considered a driving force in boosting the country’s investment and trade over the next 20-25 years. Around 200 companies from more than 30 countries currently have plans to invest in Mariel.-VNA