Mariel Special Development Zone consolidated as an important investment pole

Havana, November 7 (RHC)-- The Mariel Special Development Zone (ZEDM) is ratifying its strategic position on the island's economic development by accounting for more than 2.3 billion dollars in investments from 32 countries.

Ana Teresa Igarza, director-general of the Zone,  pointed out that this important development center has 50 approved businesses, 29 with foreign capital, 12 are joint ventures, seven operate with totally Cuban capital, and two are international economic associations.

The executive stated that of the approved businesses, 26 are in operation, while 11 are present in the multinational zone.

Eleven multinationals are present in the ZEDM, while Cuban companies are gaining space, she stressed.

Igarza noted that the urban development and infrastructure of the Zone continues full steam ahead, and that includes the construction of roads and three photovoltaic parks.

Cuban authorities estimate the amount of annual foreign investment needed to increase the country's economic growth rates at about two billion dollars, and in that sense, the special zone is a key element

Edited by Jorge Ruiz Miyares
  • Published in Cuba

Cuba's largest marble finisher expands export production

The production this year of around 20,000 marble slabs destined to exports could mean the return to foreign trade of the Manuel Hernández Osorio industrial combine, the largest Cuban rock processing facility, located in this eastern town.

The facility, which affiliated with to the Mármoles Oriente basic enterprise unit, is currently in the final stages of a thorough process of technological upgrading and has activated its two manufacturing lines and offers conditions to accept blocks of various types of this stone extracted in different parts of the country.

Director of this facility José Miguel Rodríguez told Granma International that they had so far processed some 4,000 square meters of Red Campiña marble, from Cienfuegos, and Siboney Gray, from the Isle of Youth. They are also waiting for the advance of mining development in the new local quarry of Roca Valle rock, to add it as an exportable item.

Three years after the lasts shipments abroad were made, the factory currently accumulates ready-made productions in order to respond immediately to the possible demand once the the Siboney exporting company, of the Ministry of Construction, has defined the possible destination markets.

Rodríguez pointed out that Crema Valle has historically been the most demanded among Cuban marbles, and that the current assortments -especially the 40-by-40-centimeter veneer slab- are destined for national investments in tourism, public health and other sectors. Hence, its incorporation into the line of exportable slabs will depend on the increase of extraction works in quarry.

Once the traditional mine was depressed, he explained, the recent opening of a new deposit will create the conditions to reach, by the end of the year, a potential monthly production of one thousand cubic meters of rock. The new deposit is currently at 30% of its potential, and the industrial combine only requires 850 square meters, which equals some160 blocks of 15 and 20 tons each.

The reinsertion of the Granma industrial combine in the export market, together with the search for alternatives to take advantage of the rocky residuals in the manufacture of construction materials are in accordance with agreements of the last governmental visit to the province that could be fulfilled in the short term; especially after the completion of investments planned both in the industry and the quarry.

  • Published in Cuba

Growing Investments in Cuban Tourism (PART III)

Havana, Jul 13 (Prensa Latina) The information on the investment process in Cuban tourism includes an increase in 2018 that will make the country be among the main Caribbean destinations.

The general director for development at the Cuban Ministry of Tourism (MINTUR), Jose Daniel Alonso, disclosed statistics that illustrate that growth in the leisure industry.

One of the examples of growth is in cruise tourism and the arrivals of holidaymakers in that modality.

Even in November 2018, he noted, there is a possibility that a new U.S. cruise line might join the others visiting Cuba, despite the restrictions imposed by U.S. President Donald Trump.

One of the basic ideas in that regard is that Havana becomes the Port of Call for that kind of travel, as happens with the ship MSC Opera.

Cuban authorities are also promoting nautical activities in ports run by Marina Darsena in Varadero and the marina in Santiago de Cuba. On July 27, a hotel will be inaugurated in the Segundo Frente region, a mountainous area near the city of Santiago de Cuba, to promote nature tourism.

Authorities are aware of the importance of the so-called Tarea Vida (Task Life), which is aimed at preserving the environment, as part of a plan in conjunction with the Ministry of Science, Technology and the Environment (CITMA), including the recovery and improvement of several beaches.

In that direction, sand has been poured in Varadero and Cayo Santa Maria to improve the ecological systems in those resorts.

The investment process also includes health tourism and the improvement of the quality of life, which will give a particular boost through partners in Turkey who are looking for places with thermal waters and the rescue of medicinal spas like Elguea, Lagos de Mayajigua and San Diego.

Cuban Minister of Tourism Manuel Marrero said that the country's hotels offer 69,041 rooms, including 63 percent in four- and five-star establishments and 74 percent by the beach.

Cuba has 110,415 workers in the tourism sector, 41.2 percent of whom are women and 48 percent are under 45 years of age.

Last year, the island received 4,689,896 foreign visitors, accounting for an increase of 11.6 percent, although in the eight first months of 2017, tourist arrivals rose 26 percent, but Hurricane Irma reduced the flow of holidaymakers in September.

The fastest-growing tourist-sending markets were the United States, Russia, Italy and France. Canada ranks in the first place with 1,134,225 vacationers, while Germany, Spain, France, Italy and the United Kingdom are recovering their positions as tourist-sending markets.

  • Published in Cuba

Growing Investments in Cuban Tourism (PART II)

Havana, Jul 12 (Prensa Latina) Cuba's investments in tourism are growing at present with a view to boosting the development of the travel industry, according to official reports.

The general director for development at the Cuban Ministry of Tourism (MINTUR), Jose Daniel Alonso, is enthusiastic in that regard and is optimistic about the growing spiral in that sector.

That important investment process will add 5,000 hotel rooms in 2019, totaling 9,500 rooms completed at the end of next year.

Among the examples presented by the official is the Packard Hotel, which is scheduled for completion in 2019 in Havana.

Another program in charge of MINTUR is the extra hotel sector, which is progressing more slowly, due to the impact of Hurricane Irma in September 2017, but it will have a similar importance for the country's tourist development.

That program covers the north coast of central Ciego de Avila province, Cayo Santa Maria and Varadero Beach, including improvements in the hotel rooms.

Alonso recalled that on September 15, 2017, all Cuban tourist destinations were operational despite the damage caused by Hurricane Irma.

The executive highlighted Santiago de Cuba as a region that attracts many holidaymakers, because it is closely linked to the country's history and culture.

Another region where investments are being made is Havana, which will turn 500 years on November 16, 2019, thus the importance of prioritizing the Cuban capital.

These projects are complemented by the development of real estate companies, as a result of which two joint ventures were set up in the Bellomonte region in Havana.

Two new joint ventures will start up operations in 2018, one of which works in Punta Colorada, in western Pinar del Rio province, where it carries out projects consisting of a marina and a tourist port in its second stage on the Guanahacabibes Peninsula.

El Salado Beach, relatively near Havana, benefits from a real estate project by the Spanish group Globalia and the company AirEuropa. Works are scheduled for completion in 2019.

In that regard, 95 management contracts have been signed with 21 companies, and MINTUR is seeking to attract more foreign high-rank firms like Switzerland's Kempinski, India's Mundo Hoteles, and other enterprises from countries like Singapore.

In total, Cuban authorities handle 140 opportunity projects in tourism in the hotel and extra hotel sectors and new projects. There are also 13 real estate plans, 11 of which have already been identified.

That investment process is based on an increase in foreign tourist arrivals in the country, which must be visited by 4.7 million holidaymakers this year, according to official estimates.

  • Published in Cuba

Italian PM Urges Nation’s Businesses to Invest in Cuba

HAVANA – Italian Prime Minister Matteo Renzi urged his country’s business owners and executives to invest in Cuba and ratified his government’s “renewed” commitment to building “strong” trade and cultural relations with the Caribbean island.

  • Published in Now
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