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 DĂaz-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 DĂaz González, Telesur, La Habana, Cuba.
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