FIHAV 2013 Opens in Havana

The Cuban economy is engaged in a transformation process, pinning its strength and growth on a 3 percent uptick over the past 18 months, regardless of the economic crisis worldwide, the effects of climate change and the U.S. embargo, Cuban Foreign Trade Minister Rodrigo Malmierca said.

During the grand opening of the 31st Havana International Fair, Mr. Malmierca explained the country is working with great dedication in upgrading its foreign investment policy, mindful of the role foreign capital should play in the efforts the island nation is engaged in for the sake of economic development.

With the presence of Ricardo Cabrisas, Vice President of the Council of Ministers; Division General Antonio Enrique Luzon Batle and other officials, leaders and entrepreneurs from 65 nations, the high-ranking official said that once that policy wins passage, the country hopes to have a portfolio of projects, broken down in sectors, that would ease the identification of serious partners interested in doing business with Cuban companies for mutual benefits.

He mentioned that the creation of the Mariel Special Development Zone –it has a total surface of 180 square miles in the province of Artemisa- has spun off the enactment of special policies and regulations in a bid to foster environment-friendly economic development by luring foreign investment, especially in the fields of technology and management.

According to Mr. Malmierca, with the help of that place the country hopes to promote exports, replace imports and create new jobs, perfectly in sync with international trade and with domestic economy.

For that purpose, the Mariel Special Development Zone Office opened as a national entity attached to the Council of Ministers. The office will be in charge of running the zone, controlling its activities, and putting together and managing the Development & Business Program, among other actions.

The Cuban foreign trade minister also praised the significant turnout to this year’s fair, with foreign companies hailing from 65 nations gathered in over 21,500 square yards of total surface, up a staggering 20 percent from last year’s tradeshow.