Cuba-US Promote Agricultural Investment Opportunities in Havana

Cuban foreign trade and agricultural authorities on Wednesday presented opportunities for foreign investment in the agricultural and food sectors, during the 3rd Cuba-USA Agricultural Business Conference.

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During the presentation several areas with possibilities for investment were highlighted by the Cuban authories, including livestock, poultry, fruit products, grains import and egg and milk production.

Katia Alonso Cañizares, director of Business of the Ministry of Foreign Trade and Foreign Investment (MINCEX, in Spanish), said that after a two-year pandemic and with a tightened blockade, Cuba is committed to becoming an investment place that attracts financing, technologies, new management methods and markets.

MINCEX´s most recent portfolio of opportunities included 678 projects for over $12 billion and for the first time food production showed 174 initiatives, she specified.

Regarding Act 118 on Foreign Investment passed in 2021, Ms. Cañizares highlighted that it includes a number of interesting options such as special tax regime, two investment modalities and the possibility of repatriating dividends and profits with no charge at all.

In addition, it adds the possibility of drawing up projects with low investment costs, quick recovery and start-up.

Orlando Díaz, director of International Affairs of the Agriculture Ministry (MINAGRI, in Spanish), explained the country´s agricultural sector has 57 foreign investment projects, divided in agricultural, forestry, logistics, flora and fauna, among others.