In 2017, Cuba managed to attract more than 2 billion dollars in foreign investment, similar to the previous year, when it managed to reach the sum needed to sustain its economic reforms for the first time, Foreign Trade and Foreign Investment Minister Rodrigo Malmierca announced today. .
From October of 2017 to the present, the island authorized 40 new businesses of foreign companies for an amount of investment superior to 1,500 million dollars, specified Malmierca during the presentation of the new portfolio of business for foreign capital, in the International Fair of Havana (Fihav 2018).
Of the new projects, 35 already "advance in their investment processes," he said.
In the same period, seven extensions and reinvestments were authorized for a committed capital of 100 million dollars.
The minister announced that today 30 new businesses are being negotiated in priority sectors for the Caribbean nation such as energy, industry, construction, mining, agri-food industry and biopharmaceuticals, with an estimated figure of more than 1,500 million dollars.
Foreign investment is one of the pillars of the reforms to update the socialist model on the island, promoted by former President Raúl Castro since 2011.