Economic Development and Business in Cuba Note: This article is frequently updated with new business information. The list of foreign businesses wishing to establish a presence in Cuba and of those in the process of negotiations with Cuba is ever-expanding. Over the past couple of years, many foreign governments accompanied by economic missions have been meeting with the Cuban Minister of Foreign Trade and Investment (MINCEX). Bilateral relations and deals are on the agenda. Corporations interested in doing business in Cuba do so in joint ventures with Cuba. The relationship between Cuba and foreign companies is based on a mutually beneficial partnership. On average, it’s a 50-50 relationship. This percentage can vary. Corporations are expected to experience growing profits in Cuba. American products and well known brand names such as Coca-Cola, Nike are commonly seen and sold in Cuba. But these products are imported by distributors from Europe, Asia, Latin America and Canada. None of these corporations are, as of yet, operating in Cuba. They’ll probably be operating one day, but that’s some day in the future.Advertisement. Scroll to continue reading. A few companies from China have been added to the list. China (Cuba’s largest trade partner) invests and trades in…
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