FIHAV 2014: Cuba Puts Smart Money on Foreign Capital
A token of the growing prestige and strength of the Havana International Fair and the confidence of commercial partners in Cuba’s economic future is what this 32nd edition is all about, with representatives from over 60 nations.
FIHAV 2014 is no doubt showing off the largest turnout of the past 12 years, said Rodrigo Malmierca, Cuba’s minister of Foreign Trade and Investment, in his opening keynote speech.
With Ricardo Cabrisas Ruiz, vice president of the Council of Ministers, other officials, members of the Organizing Committee, and representatives of foreign and domestic companies in attendance, Mr. Malmierca announced the main theme of this year’s edition: the promotion of foreign investment.
The updating of Cuba’s economic model has entered a qualitatively higher stage –he said- and the new legal framework offers warranties and possibilities to the investors.
“We’re convinced the foreign capital will play a major role in Cuba’s future economic development,” Mr. Malmierca pointed out.
In his opening remarks, Mr. Malmierca stressed that regardless of the negative effects of the longstanding U.S. embargo on the island and the unstable economic situation worldwide, Cuba has been strictly making good on its financial commitments, an attitude that favors the country’s credibility around the world.
FIHAV 2014 becomes the perfect setting to talk and showcase Cuba’s potentials in commerce and investment. A good case in point will be the official launch this Monday of the Foreign Investment Project Portfolio, broken down in sectors.
Even though harassment on foreign companies that do business with Cuba accrued throughout the 2013-2014 period, this tradeshow underscores the confidence many countries have pinned on the island nation’s social and economic development project, the Foreign Trade Minister was quoted as saying.
Mr. Malmierca also said Cuba’s GDP climbed 2.7 percent this year as the last quarter’s economic indicators keep showing a solid uptrend.
At the same time, minister Malmierca thanked participating delegations from the Community of Latin American and Caribbean States (CELAC is the Spanish acronym) and the representation of Cuba’s top trade partners, including Venezuela, China, Russia and Spain.
