Cuba opens int'l trade fair to attract foreign investment

HAVANA - Cuba on Monday kicked off the 37th Havana International Fair (FIHAV 2019), in a bid to attract foreign investment in national development projects.

Cuban President Miguel Diaz-Canel and Minister of Foreign Trade and Investment Rodrigo Malmierca were present at the opening ceremony of the five-day trade fair, which drew companies from about 60 countries.

"We will have the opportunity for exchange with different entrepreneurs from around the world in an environment of optimism, in favor of the development of Cuba's economy and that of other nations," Malmierca said.

This year's fair takes place amid stepped-up US sanctions, the minister noted, while acknowledging the efforts made by Cuba and other countries to hold the fair despite the intensification of the US trade embargo.

"It attests to the confidence of international entrepreneurs in the Cuban market," Malmierca added.

For the first time, Cuba's private sector will be represented at the trade fair by two non-agricultural cooperatives that will exhibit their export products.

Cuba's Mariel Special Development Zone will also make a presentation to promote its tax breaks for companies that set up operations within the industrial park.

Wednesday will see the opening of an investment forum featuring the 2019-2020 portfolio of investment opportunities.

The FIHAV was first held in 1983 to attract capital, technical know-how and modern technologies which Cuba needs for its economic development.