Cuba underscores need for foreign investment at global trade fair

The cigar-making stand at the 33rd International Fair of Havana has become a window showcasing Cuba’s determination to develop its economy through trade and commerce with 900 companies from about 70 countries.

(Soundbite) Rodrigo Malmierca, Cuban Minister of External Trade and Foreign Investment
“This fair boasts 326 projects, 80 more than the previous one. We have removed 40 projects for a diversity of reasons, mainly because they are being negotiated.”

At the fair, Cuba also highlighted its ambition to attract 2 to 2.5 billion U.S. dollars of annual foreign investment in the coming years.

(Soundbite) Rodrigo Malmierca, Cuban minister of External Trade and Foreign Investment
“We continue in a permanent way studying new opportunities of business and we will continue incorporating (new projects) into the fair. This won’t be the last one. I hope that the next year we are here again and let us expect the third fair.”

Last year’s fair championed a new tax-cutting foreign investment law, while this year’s was conducted against the background of Cuba resuming diplomatic ties with the United States in July.

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