On the occasion of the 40th edition of the Havana International Fair (Fihav 2024), until November 9, the Minister of Foreign Trade and Foreign Investment, Oscar Pérez-Oliva, said when presenting the updated portfolio that the most representative sectors are: energy, tourism, sugar agro-industry and its derivatives, transportation and logistics, efficient trade, construction, culture, telecommunications and information technology, pharmaceutical industry and biotechnology.

Pérez-Oliva emphasized that it is expected to conclude 2024 with some 30 new businesses, 12 fewer compared to 2023, although there are 23 projects in advanced stages of negotiation with important strategic partners. Most of them with conditions to materialize from some concepts for approval.

The head of the Foreign Trade portfolio also highlighted the approval of three new projects with the participation of Cubans living abroad, and highlighted the presence of more than 60 compatriots present in Fihav 2024 who maintain business in the country, whether trade or investment activities.

In Cuba there are 328 businesses in force with foreign capital: 112 joint ventures, 184 contracts for international economic association, 62 businesses with one hundred percent foreign capital and three reinvestments were approved for an amount of approximately 119 million dollars.

Cuba offers investors advantages that go beyond the approval of Law No. 118 and its complementary norms, which made it possible to create a safe and transparent legal framework in a favorable business environment, in a country that offers investors political, social and legal stability and a climate of security for foreign personnel.

Some of the most significant benefits for financiers are tax incentives, the formulation of sectoral policies to identify investment opportunities with foreign capital that allow access to the Cuban market and its consumers.

Investments in Cuba are also assured by multiple international agreements signed by Cuba with the Latin American Integration Association, the Caribbean Community, the Bolivarian Alliance for the Peoples of Our America, the Southern Common Market, the European Union and the World Trade Organization, among others.

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