Cuba: Investment and Export Options in Online Business Forum

The Business Forum Cuba 2020, to be held on December 8-9, seeks to facilitate contacts between the island's entrepreneurs and those of international firms, as well as to expose the investment opportunities available in the Caribbean country, explained today the Cuban Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca, at the opening of the event.

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The catalog for sales abroad includes 570 products and 260 services, informed  Malmierca. Among the goods highlighted, some are already established in the international market, such as cigars, coffee, rum, or charcoal. Other novelties were added, such as fruits and vegetables, honey, and cosmetic treatments, among others.

Other outstanding options are ceramics, musical instruments, bottled water, nutritional supplements, and Vidatox 30 CH, a Cuban medicine made from scorpion venom to treat cancer. 

The catalog, published on the Ministry of Foreign Trade and Foreign Investment (Mincex) website, included different offers of services abroad, such as health and academic services, sports training, and intensive Spanish language courses.

This Thursday, the head of Mincex announced the new Portfolio of Foreign Investment Opportunities 2020-2021, which includes 503 projects with an estimated value of 12.7 billion dollars.

At the Forum, Malmierca underlined the importance of foreign capital investments for the country amid the economic recession taking place due to the Covid-19 pandemic and implementing new restrictive measures against Cuba as part of the tightening of the US blockade.

Despite these obstacles, in the last year, 34 new business associations were created with an estimated value of over 1.8 billion dollars, mainly in tourism, construction, mining, and industry, the Minister stated.