Cuba Business Forum 2020

The Minister of Foreign Trade and Investment, Rodrigo Malmierca, announced the launch of the first edition of the Cuba Business Forum 2020 (Foro Empresarial Cuba 2020) to take place on December 8 and 9.

The Cuba Business Forum 2020 is a virtual alternative to the International Trade Fair of Havana (FIHAV) and designed to promote contact between Cuban and international businesses.

The event, promoted by MINCEX, the Chamber of Commerce of Cuba and ProCuba (Center for the Promotion of Foreign Trade and Investment) will facilitate the exploration of new markets for foreign investment and promote exports.

Among the main attractions of this event will be the presentation of the latest edition of the Portfolio of Opportunities.

The new Cuban Exportable Offer and the advances of the Special Development Zone of Mariel (ZEDM) will also be presented at the Cuba Business Forum.

Several discussion forums will be held on the Foreign Trade (VUCE) and Foreign Investment (VUINEX) platforms. Non-State Management Forms (NSMF) in the foreign will also be discussed.

Interested participants can register on the MINCEX website found here.

Cuba has recently implemented changes in trade and business policies that include facilitating business procedures with the VUINEX and the recent opening of its head offices in Havana. VUINEX simplifies procedures and shortens deadlines for the approval of permits, licenses and authorizations.

In addition, two new legal provisions will come into force regarding mortgages, pledges and trusts, which offer guarantees to businesses with foreign capital and avoid damages to investors.

At the moment, more than 150 commercial partners are working in Cuba, the economy has more than 1,000 exportable items, more than 400 projects of foreign investment in different stages of development and more than 280 contracts with private entities.

According to Minister Malmierca, the Cuba Business Forum also seeks to strengthen the integration between the country’s private sector and state-owned companies, one of the most important measures in the country’s new economic strategy.