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  • 2 weeks ago
Cuba announced new economic measures to boost the economy at the Havana International Fair, held at the Expocuba exhibition center. Priorities include macroeconomic stabilization, the participation of all stakeholders, and the promotion of foreign investment. Our correspondent Isabel Diaz Gonzalez has the details. teleSUR
Transcript
00:00Cuba announced new economic measures to boost the economy at the Havana International Fair,
00:06held at the ExpoCuba Exhibition Center.
00:08Priorities include macroeconomic stabilization, the participation of all stakeholders and
00:14the promotion of foreign investment.
00:16Our correspondent Isabel Díaz-González has the details.
00:22Cuba remains open to new forms of investment, cooperation and value creations in the business
00:27sphere, always under the promise of never compromising the country's sovereignty, and within the
00:33framework of the Constitution of the Republic, as announced at the Havana International Fair.
00:40These decisions are part of the implementation of the government's program to correct distortions
00:47and re-boost the economy.
00:49They are aimed at expanding the operational capacities of foreign investment in the country, as well
00:56as simplifying procedures and streamlining operations.
01:00The measures include differentiated financial scheme, operations in foreign currency and
01:05national currency, more autonomy in processes, e-commerce with payments from abroad, greater
01:11institutional agility and flexibility in hiring workforce and foreign investment.
01:16What do these changes entail?
01:20First, a new differentiated framework for foreign investment will be established, allowing investors
01:28to operate in either the local currency or foreign currency, according to their needs.
01:35What does this mean?
01:36That we have initiated and recognized as part of the government actions a process of partial
01:42dollarization of the economy and foreign investment mainly operates in national currency.
01:49However, the impact of this partial dollarization process has identified the advantage of being
01:55able to operate in both currencies in a flexible manner, so that, according to their needs, they
02:02can generate operations towards the different sectors of the economy.
02:06As part of the investment forum at VHAB 2025, the Vice Prime Minister also presented the updated
02:13portfolio of opportunities, which includes 426 projects.
02:18This is also closely linked to the need for foreign investment to focus on obtaining external sources
02:28of income, that is, towards the foreign market by exporting goods and services, but also to different
02:35segments of the domestic market where foreign currency income can be obtained.
02:40It has been reported that among the measures, the priorities are focused on exports and import
02:46substitution, food production and knowledge-intensive activities.
02:50There are other issues that will definitely have an impact on the new foreign investment
02:57law, which, as you know, a legislative timeline has been approved and it is scheduled for the
03:03session of the National Assembly of the People's Powers in December 2026, the addition of a new
03:09law and all the work and components of the people involved in the process so that they would agree with the modification.
03:16The measures are aimed at greater transparency and guarantees, quality of life and financial growth
03:22for the benefit of the Cuban people and national economic development.
03:26Samir Medina e Isabel Díaz González, Telesur, La Habana, Cuba.
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