On a press briefing, the minister advanced that the 2nd Business Forum from November 29 to December 2 will allow promoting those facilities and the economic sectors in which foreign capital investment can be very profitable, in addition to having well-prepared personnel from the technical point of view.

The event aims at maintaining contacts between Cuban and foreign companies in Covid-19 times, so this year it will once again be virtual and with the novelty of having the participation of all non-state forms of management in efforts to bolster exports.

It will also be an opportunity to showcase the potential of Cuban foreign trade through a virtual fair, which will exhibit products and services via Internet through the same platform designed for the encounter.

Malmierca announced that the presentation of the new Business Opportunities Folder will also contribute to such goal, a portfolio that for the first time will include local development projects of territorial interest and which in its update is made up of 678 projects, 175 more than the previous one.

The minister noted that for Cuba it is of great importance to take advantage not only of the opportunities to establish business with large capitals, but also the opening of small format business that can contribute to the development of a province or municipality with local projects.

Likewise, the Forum has planned a special panel for Cuban entrepreneurs living abroad, who are very interested in opening small businesses, and for which Law 118 on Foreign Investment does not establish any measure or prohibition, something that is also supported by the Constitution of the Republic.

On the issue, Malmierca clarified that there are currently few for material reasons, because until now they were only small format proposals, but in the interest of giving participation to the municipalities, this type of business with a territorial approach is stimulated.

In relation to the state of foreign investment in Cuba, he highlighted the strong activity with Latin American countries, such as Mexico, Argentina and Venezuela, while the Caribbean is a priority target within the country’s trade policy.

Malmierca advanced that by 2022 the presence of foreign capital in the country is expected to reach two billion dollars, which requires more agility in the negotiation processes and procedures.

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