Cuba Presents Business Opportunities in Maranhao, Brazil

Cuba's potential business opportunities for foreign investors were presented at a seminar for entrepreneurs from several sectors in the state of Maranhao, in northern Brazil.

The update of the Cuban economic model and recent modifications to make foreign investment procedures more flexible have created a favorable business environment on the island, said Dagmar Gonzalez, the economic and commercial advisor to the Cuban Embassy in Brazil.

Brazil holds an outstanding position as a supplier of products to Cuba, especially food and beverages, machinery and equipment, home and construction, and fashion, said the diplomat.

The seminar was also attended by the consul general of Cuba for Northeast Brazil, Laura Pujol, who invited the participants to attend the next edition of the Havana International Fair (FIHAV 2018), scheduled from October 29 to November 2.

FIHAV is considered the most important commercial and multisectorial event in Cuba, where every year, the event is attended by a large representation of Brazilian companies, recalled Pujol, who noted that a prospective mission is already underway and includes business people from this northeastern state.

The 2017-2018 Portafolio of Foreign Investment Opportunities in Cuba contains 456 projects, with an estimated capital of 10.7 billion dollars. Most of the proposals are concentrated in the sectors of ourism (152), agri-food (104), oil (78), industry (33) and pharmaceutical-biotechnology (15).