The VI Investment Forum concludes today at the 39th Havana International Fair (Fihav 2023) and among its main activities will showcase Foreign Investment Opportunities for the Eurasian Economic Union.
Investment potentials for the Gulf countries, Cuba an attractive market for the region, and the signing of a memorandum of understanding between the Mozambique Promotion Agency and the Mariel Special Development Zone are part of the activities of this day in Fihav 2023.
In addition, the presentation of the Portfolio of Services of the Cuban Medical Services Commercialization Company and the National Days of China, Panama, Argentina, Vietnam, the Netherlands and Mozambique will take place at the Expocuba fairgrounds until November 11.
The day before, Carlos Luis Jorge, general director of Foreign Investment of the Ministry of Foreign Trade of Cuba, presented the update of the Portfolio of Opportunities on the first day of the VI Investment Forum.
Jorge explained that 30 projects were finalized in 2023, and there are three in the final approval phase, while another 45 are in advanced negotiations, for an estimated amount of nine billion dollars.
He stressed that for the first time a foreign investment deal was concluded with a Cuban partner residing abroad, a sign of the country’s will towards its nationals and a step to be referenced in order to reach more agreements of this type.
In total, the island currently has 334 foreign investment businesses in operation from more than 40 countries, 52 of them located in the Mariel Special Development Zone.
Regarding the Portfolio of Opportunities, he said that Cuba has 729 projects, 21 more than in the previous year, which imply a total investment amount of 34 billion 471 million dollars. Initiatives distributed in all provinces, with the largest representation destined to the food sector with 215 proposals.
Another 139 were submitted by local governments, including 121 oil exploration projects and nine mining projects, as well as others related to commerce, professional services, tourism, construction, transportation and logistics.
In this regard, he mentioned that there are 374 proposals for more than five million dollars, 115 between two and five million, 63 between one and two million, and 177 below these last figures.
