Most foreign investments in Cuba come from EU
Havana, Feb 8 (EFE).- Some 56 percent of foreign investments in Cuba come
European Union (EU), according to a report by the Ministry
of Foreign Investments and Economic Cooperation.
The island's 403 international joint ventures with state-owned businesses
have a total
capital investment of $5.93 billion, principally in the tourism, biotechnology, basic
industry, construction, food and agriculture.
Figures published in the official weekly Granma International indicate
that 20 percent
of these ventures are based abroad.
The report also notes that Spain has the greatest number of ventures in
followed by Canada (60), Italy (57), France (18), Britain (14), Mexico (13), China (12),
Panama (10), Germany (9) and the Netherlands (8).
According to the same report, preparations are underway to sign a financial
cooperation agreement between EU and Cuba, the only Latin American country that
has not signed such an agreement.
Foreign Investment and Economic Cooperation Minister Marta Lomas said that
2002, sales of goods and services approached $2 billion, and exports rose to more
than $674 million.
Most new joint ventures between foreign companies and the Cuban government
initiated in construction and basic industry.
Publication: EFE News Service
Distributed by Financial Times Information Limited