The country of Cuba has become a magnet for the foreign investors

At the start of the year of 2016 full of bad news for most economies, the country of Cuba, for the first time, seems to have a more positive reality.

Following the easing of relations between the country of the United States of America and the country of Cuba, which certainly will benefit the Caribbean country, other countries have sought to strengthen the economic partnerships in the different sectors, with this nation.
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Such is the case of the country of France, which recently was the Cuban President Raul Castro, and signed with his French counterpart, Francois Hollande, in six (6)points that will consolidate the debt of the island with the country of France.

In the agreement reached this year of 2016 in the city of Paris, it was established that the creditors of the Paris Club condoned a 8.000 500 $ million in interest payments on the Cuban debt of 11 (eleven) thousand 900 (nine hundred) million dollars, including four (4) billion in payments with the country of France.

The meeting between the two (2) presidents was nothing new and rather continued the meeting the two (2) held in the month of May of the year of 2015, when Hollande traveled to the country of Cuba. At that time Hollande and Castro expressed the need to assume a greater leadership in the international context taking advantage of the influence of their countries.

During that meeting in the country of Cuba, Hollande opened a new branch of the Alliance Française, in the historic center of the city of Havana, where the language and the francophone culture is promoted.

On these new talks, Castro has emphasized this point and said that now is more favorable for the development of the financial relations and the implementation of the new projects between the two (2) nations are created.

The foreign investment law, the monetary unification plans and the flagship projects such as the Mariel Special Development Zone are just some of the interests of the country of France in the country of Cuba.

All this is part of the new rhetoric of the Cuban leader of “liberate” its economy, a decision that was manifested in the “smoothing” of the blockade by the country of the United States of America. The first restrictions were removed the restrictions on the payment and the financing that fell on the non-agricultural products, which advanced on the payments or any other third party countries to take the payments will no longer be necessary. The revival of the commercial flights between the two (2) countries, allowing the leases and share the code with Cuban airlines and as transactions related to the temporary stay of the aircraft and its crew in the country of Cuba. They also allow holding the professional meetings and the operation of the media.

Another commitment by the country of the United States of America government is creating a new protocol to approve the exports of goods telecommunications to improve the communication to, from and within the country of Cuba, utensils and software targeted at non-governmental organizations that seek to strengthen the Cuban civil society and the American newspaper correspondents on the island.

The opening to the country of Cuba with more flexible sanctions to the island from the trade embargo imposed by the country of the United States of America since the year of 1962 and caused the GDP collapsed by 30% (thirty).

Other stakeholders

Overall, the country of Cuba offers the investment opportunities for all the sectors and that most of the country lacks basic infrastructure such as the reliable Internet and even the supermarkets, the pharmacies which opens unlimited opportunities.

The transition from the organic farming system in agriculture that are not genetically modified seeds to genetically treated also represents an opportunity for a large-scale trading for the foreign investors on the island.CUBA 2

In the month of November of the last year, the Mexican state oil company Pemex, proposed a project to send gas commitment to the island to meet the requirement that would increase with the expected increase in the industrial activities.

The new scenario of the island, also will appeal to refurbish the tourism as one of the most profitable sectors, and only in the year of 2015, grew 15% (fifteen) over the previous year, according to the Ministry of Tourism of the Caribbean country.

According to the reports from the International Monetary Fund’s of the total tourists arriving in the island, could be of 5 (five) million Americans. To cope with this growth the country of Cuba would need an investment in the infrastructure and has already submitted a plan for the creation of 24.000 hotel rooms by the year of 2020.

In this regard the country of Spain, it would be the main beneficiary since the decades has hegemony in the sector on the island.

The banking and the financial technology is another niche in the economy of the Caribbean country; currently the financial services are largely informal and the modernization represents an opportunity for the businesses that can finance are more sophisticated.

Throughout this context of openness of its economy the country of Cuba has comparative advantages; has a population academically, even higher than in other countries in the region prepared, thanks to a system of free education that has more than 47 (forty seven) universities and 400.000 students and according to the World Bank is credited as the best education in Latin America.

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