Each year the Cuban government publishes a portfolio of Foreign Investment Opportunities in Cuba. The investment portfolio is available online and published annually by the Cuban Ministry of Foreign Commerce and Investment. The latest edition of the Portfolio available is for 2017-2018. This article has been updated with the current Portfolio from Cuba.
In March of 2014, the government of the Republic of Cuba enacted Law 118, a legal framework defining foreign investments with the goal of sustainable economic growth. Attracting foreign investment is vital for the Cuban economy. Law 118 clarifies investment law in Cuba and promotes transparency in the application of the law. Its supplementary provisions define the autonomy and sovereignty of Cuba and the mutual benefits for foreign investment. Law 118 replaces previous foreign investment acts including foreign investment Law No. 77, (1995); Law No. 165, (1996); No. 5279, 2004; No. 5290, (2004) and No. 6365, (2008).
Cuba’s Gross Domestic Product (GDP) grew 4 percent in 2015 in comparison to other Latin American nations within the region which experienced an average of decline of 0.4%. Cuba is particularly attractive to foreign investors at the current time not only because of the sudden interest of American investors, but also the foreseen potential for profit. Foreign investors from other countries such as Spain, Canada, France have had and continue to experience growth and profits. Access to the untapped Cuban market and its consumers as well as a host of other factors make Cuba a very attractive choice for foreign investors.
Other aspects which make Cuba an attractive choice for foreign investment include an environment which has historically encouraged research and technical innovation. Its geographical location in close proximity to the United States make it a natural market for American business, but it is currently hampered by the embargo. Cuba’s low crime rate makes it one of the safest countries in the world not only for tourism but also for foreign industry. Cuba’s population is educated and highly qualified as a direct result of free and accessible education.
Cuba presents a basic infrastructure although there is much for improvement/investment in some areas. This infrastructure includes 20 airports, deep vessel marine ports and electrical power services to 95% of the country. Telecommunications and internet services are poor due to the American embargo, a factor which has resulted in one of the lowest connectivity rates in the world.
Over the last couple of years Cuba has been expanding Wifi access throughout the country. Most recently ETECSA, the telecommunications company, commenced a broadband internet project to deliver internet services to homes and businesses in the city of Havana. Internet services are in desperate need of improvement and investment. Opportunities for investors exist in this area.
Cuba is a partner in a number of international agreements including the Latin American Integration Association (ALADI), the Caribbean Community (CARICOM), the Bolivarian Alliance for the Peoples of Our America (ALBA), the Common Market of the South (MERCOSUR), the European Union (EU), and the World Trade Organization (WTO). Bilateral Investment Treaties are in force with Spain, Barbados, Italy, Russia, Canada, Mexico, Portugal, Qatar, Lebanon, China, Vietnam, Austria, Ukraine and Venezuela.
The Foreign Investment Opportunities in Cuba is a summary of opportunities available for foreign investors. It outlines the nation’s foreign investment principles, investment advantages and lists tax incentives for foreign investors. It also describes in great detail the Special Economic Development Zone of Mariel (ZEDM project) and investment opportunities at the Port.
Cuba is looking for partnerships and sustainable investment to grow its economy. Some 326 opportunities are outlined in the document, broken down by industry sector, description, location, market potential, classification of the investment, Cuban party (enterprise name) and the estimated/anticipated results. Contact information for each investment opportunity is also available.
Cuba is seeking foreign investment and partnership in the following industrial sectors:
- Agricultural-Forestry and Foods
- Sugar Industry
- Biotechnological and Pharmaceuticals
- Electronics, Informatics, Automation & Telecommunications
- Audiovisual Sectors.
(The above list is a brief summary of the major sectors and is not inclusive of all industry sectors open to foreign investors)
The investment portfolio from the Cuban Ministry of Foreign Commerce and Investment was first published on the Granma news website. For convenience, it is available on our servers in English. To view the PDF in full or download the document, click here (File size: 8.62 MB).
Further information for foreign investors* can be obtained from the Ministry of Foreign Trade and Investments (MINCEX), the ProCuba office – the Center for the Promotion of Foreign Trade and Foreign Investment or the Chamber of Commerce in Havana.
MINISTRY OF FOREIGN TRADE AND INVESTMENTS (MINCEX) Infanta no. 16 esq 23, Plaza de la Revolución, La Habana, Cuba E-mail: firstname.lastname@example.org Website: http://www.mincex.cu
ProCuba: CENTER FOR THE PROMOTION OF FOREIGN TRADE AND FOREIGN INVESTMENT (PROCUBA) Calle 10 no. 512 e/31 y 5ya Ave, Playa, La Habana, Cuba E-mail: email@example.com, firstname.lastname@example.org, dianne. email@example.com Tel: (53) 7214-4339 Website: http://www.cepec.cu Open weekdays to the public from 8:30 am to 4:00 pm
CÁMARA DE COMERCIO DE LA REPÚBLICA DE CUBA
CHAMBER OF COMMERCE OF THE REPUBLIC OF CUBA (CCRC) Calle 21 no. 661 esq a calle A, el Vedado, La Habana, Cuba E-mail: firstname.lastname@example.org Tel: (53) 7838-1321/ 7837-1322/ 7838-1452 Website: http://www.camaracuba.cu. Open weekdays to the public from 8:30 am to 4:00 pm.
*Note: It is understood and naturally assumed that persons and corporate entities will verify legislation for foreign investment within their own countries of origin when investigating investment opportunities abroad.
Updated December 17, 2017