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Cuban government encourages foreign investors

The Cuban government is encouraging foreign businesses that remain active on the island that its appreciation for remaining in spite of the Helms Burton Act will be shown.

Havana, Cuba (Photo: Britannica.com)

A government release on September 19 said such businesses will have” all the support” in the face of possible demands from the full activation of the Helms-Burton Act.

You and your companies have opted for our country, and you are still with us despite the difficulties. We count on you to overcome these new obstacles,” said the First Deputy Minister of Foreign Trade and Foreign Investment, Antonio Luis Carricarte, in a meeting with businessmen and foreign diplomats, held at the Nacional Hotel, in Havana.

First Deputy Minister of Foreign Trade and Foreign Investment, Antonio Luis Carricarte (Photo: acn.cu)

Carricarte said the US embargo “is an unfair reality with unfortunate effects and devastating consequences, at a cost of more than US$ 134 billion to Cuba.

In a press release published at oncubanews.com, the Deputy Minister said that measures taken so far to aid businesses affected include, “some aimed at facilitating our foreign trade relations and the possibilities of foreign investment.”

The site noted that the full activation of Helms-Burton by the government of Donald Trump has come at a time when Havana intensifies the search for foreign capital to strengthen its deteriorating finances.

 Cuba requires about US$2.5 billion dollars of annual foreign investment to sustain its economy, also beaten by the crisis in Venezuela and internal inefficiency, oncubanews.com said.