Cuban industry seeking foreign
investment to support modernization
Yudy Castro Morales &
Foreign investment opportunities, featured Wednesday
at the Havana International Trade Fair, included
projects in the steel, chemical, electronic and
light industries, attracting the attention of
businesspeople in attendance.
Adriana Barceló Permuy, general director for
industrial management at the Ministry of Industry
reported, at a special forum, that available to
foreign investors were some 20 projects potentially
involving a total of 1.2 billion dollars, 10 of
which would be located in the Mariel Special
Development Zone (ZEDM).
Proposals include the modernization of the country’s
industrial facilities, and the creation of new
capacity to meet national demand, replace imports
with domestic products, and generate exports.
Barceló reported that discussions have already begun
with representatives from Portugal, China, Russia,
Brazil, Italy, Ecuador, South Africa, Vietnam and
the UK, among others.
Options in the electronic industry, the specialist
stated, include the manufacturing of LED lights,
cellular telephones, computers and optics.
While light industry projects are directed toward
technological modernization, with a view toward
replacing imports of toiletries, disposable sanitary
items, footwear and packaging, Barceló reported.
Other foreign investment opportunities include
several in the chemical industry, she said, the most
significant involving the production of newsprint,
bond and tissue paper, as well as radial tires.
The steel and metal work industry is seeking
investors to develop projects in recycling,
machinery, motor vehicles and agricultural
equipment, the Ministry official reported,
prioritizing the production of steel and containers,
along with more extensive projects in agriculture