Associations with Firms from 46 Countries Operate in Cuba

Posted July 23, 2003 by publisher in Business In Cuba

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DTcuba.com

Havana.- Foreign investments have shown a steady development in Cuba, where 403 international economic associations with companies from 46 countries are operating.

According to officials from the Ministry for Foreign Investment and Economic Collaboration, those associations include joint ventures, administration contracts in hotels and factories, and cooperated productions.

The associations are concentrated in 32 economic sectors, including tourism, agriculture, transport, the basic industry and construction.

Associated productions are the predominant formula in Cuba’s economy with 270 of such associations, since they are approved rapidly and do not involve large amounts of money.

Besides, associated productions are often the starting point for bigger businesses, and are highly beneficial for medium- and small-size enterprises.

In its negotiations with foreign firms, Cuba seeks markets for its products, financing and technology, as well as reducing imports and improving industrial efficiency.