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The Cuban Government strengthens foreign investment as an immediate alternative to substitute imports focused on strategic export sectors and areas of lower economic development in order to produce more goods and services within the island.

foreign-investment

In the new edition of the Portfolio of Opportunities launched in November 2016 during the International Fair of Havana, the country included 3 new sectors that were not previously offered:

  1. Telecommunications, information and communication technologies + postal services
  2. Banking and financial (Central Bank of Cuba)
  3. Hydraulic

Tourism represents the most dynamic sector of the Cuban economy and the country’s second largest source of income behind the sale of professional services abroad, so Cuba has launched 110 new projects in its portfolio of foreign-invested business opportunities for this economic area.

Highlights the introduction of management contracts with financing where the hotel companies can commit to the investment to remodel the facilities, before starting their administrative management.

For Ex.  Iberostar Hotels  take over the operations of the Habana Riviera Hotel in the Cuban capital.

Another service management contract is strengthened in the sector of nautical small harbors , valued as an important complement to the hotel operation on the island

These projects include the first five-star plus hotel in Havana, the “Manzana Kempinski”, that we have reviewed on our site, and was managed by the Swiss chain Kempinski in partnership with the state corporation Gaviota S.A

Others that go by similar route are the Havana hotels “Prado and Malecón” and “Packard”, whose construction works have begun in alliance with the Spanish company Iberostar and the French company Accor, respectively.

Works are part of Cuba’s plan to add 4,020 hotel places this year to the 67,000 that it has throughout the country and reach a total of 104,000 by 2030, in order to meet the high demand in the main tourist centers of the country Caribbean, such as Havana, the resort of Varadero, the eastern province of Holguín and the Cayería Norte and Trinidad, in the central zone.

By 2017, projections of foreign visitors to the island aim to raise the number to 4.2 million.

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