Cuba invites America’s entrepreneurs to do business together

Cuba invites America's entrepreneurs to do business together
14YMEDIO, Panamá | Abril 10, 2015

This Thursday Cuba offered itself as a safe destination for foreign
investment and invited the business leaders of America, meeting in
Panama, to visit the island "to make progress toward establishing
mutually beneficial businesses."

Rodrigo Malmierca, Cuban Minister of Foreign Trade and Investment also
said, in statements to reporters, that "the policy of the [US] blockade
goes against not only Cuba and the Cuban people, but also the will of
businesspeople in the United States."

In a speech to businesspeople participating in the CEO Summit of the
Americas, Malmierca spoke of "great expectations" produced by last
December's announcement, the beginning of a process of normalization of
relations between Washington and Havana.

"The measures adopted [by the US] on Cuba in January, which modify
certain aspects of the embargo, although limited, are a step in the
right direction. But it must not be forgotten that (…) the blockade
remains in force," he said.

He stressed that "in recent months" Cuba has "received important
delegations of [US] businesspeople and politicians, who have confirmed
their interest in developing businesses with Cuban entities."

In Cuba "We do not limit nor discriminate against US companies, so that
opportunities" for business and investment offered by the Island in
sectors such as food, renewable energy, oil exploration, pharmaceuticals
and biotechnology "are also open (to the USA)," he added.

"Today we can say that we are witnessing a new phase of the inclusion of
Cuba on the international economic stage, which introduces opportunities
for trade and investment," Malmierca told the business leaders

The Cuban minister said that in this "new phase" the government of Raul
Castro extended its "vision of the role of foreign investment,
recognizing it as an active and essential element for the growth of
certain sectors and economic activities."

The Cuban government estimates that it needs about "2,500 billion
annually in foreign investment to stimulate a growth that will lead to
developing prosperity and sustainability" of the "socialist" project, he
said.

Malmierca pointed out that Cuba, in addition to the "guarantees and
incentives" established in a new law, "makes available" to foreign
capital attractions such as scientific potential, the availability of a
skilled workforce with expertise in high technology, and a privileged
geographic location, among other assets.

"The Cuban market, although it is not a large economy, has an important
weight in the Caribbean (…), which together with other aspects (…)
translates into new opportunities to expand trade with Cuba and its role
in intraregional trade," he said.

He added that Cuba has outlined a program of long-term development that
leads the country's efforts for the building of a socialist society to
bring further benefits to all Cubans.

"We are convinced that the countries of the region will accompany Cuba
in these efforts," he said.

The Second CEO Summit of the Americas is one of four official forums
previous to the Seventh Summit of the Americas at which, on Friday and
Saturday, the 35 countries of the continent will meet for the first time.

One of the most anticipated moments of the continental meeting is the
greeting between the American president Barack Obama and the Cuban
president Raul Castro.

The business event has generated a document with recommendations that
will be presented to heads of state and government attendees of the
hemispheric summit.

Source: Cuba invites America's entrepreneurs to do business together -
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