HAVANA, CUBA - Cuba's Ministry of Foreign Trade and Investment released its newly expanded annual foreign direct investment opportunities portfolio which details 456 economic development projects worth over $9.5 billion open to foreign investment. In addition to releasing new FDI opportunities, Cuba announced $2 billion in foreign deals signed with British, Chinese and Spanish investors.
"Cuba is actively seeking billions of dollars of foreign investment to strengthen economic development and private sector growth on the island. The projects in the FDI portfolio represent tangible opportunities for U.S. companies to invest in Cuba's burgeoning markets and help modernize our island neighbor," said President of Engage Cuba, James Williams.
"Despite President Trump's harsh rhetoric, Cuba is open for business," Williams added. "Cuba is attracting billions of dollars of FDI, whether it's from American investors or our foreign competitors. The question is, will President Trump and Congress allow U.S. companies to compete for these growing opportunities, or keep them on the sidelines as Cuba's markets continue to grow?"
A copy of the report is available here. A summarized list of key investment opportunities in a range of industries, including agriculture, energy, biotech, health care and transportation, is available below.
Cuba seeks over $9.5 billion of FDI in the following sectors:
*Figures below are estimated project costs stated in the portfolio.
Mariel Special Development Zone: Over $1.7 billion for developing the Special Development Zone at the Port of Mariel, soon to be the largest port in the Caribbean. Projects at Mariel are available in the agriculture, biotech, industrial, construction, and real estate sectors.
Agriculture: $2 billion (including $380 million in ZED Mariel) for agro-industrial projects for increasing food production, encouraging sustainable development, and replacing food imports.
Biotech & Health: $850 million (including $815 million in ZED Mariel) to promote strategic partnerships in drug manufacturing and the creation of new biotechnical products. Cuba also seeks to develop its medical and health service exports.
Industrial: $6.5 billion ($439 mil in ZED Mariel) to promote projects to modernize Cuba’s industrial capacity in order to meet national demand and generate new exports.
Energy: $513 million to create, broaden, and modernize production capabilities in energy, particularly in wind, solar, biomass, and hydro energy sources.
Transportation & Infrastructure: $371 million (including $72 million in ZED Mariel) to modernize roads, railways, maritime ports, and airports to accommodate both mass transit and new cargo shipping routes. Cuba also seeks to further develop its hydraulic infrastructure.
Tourism: $898 million for building new hotels and tourist facilities and modernizing existing ones, as well as diversifying the management of tourist facilities owned by foreign companies.
Business: $22 million to develop wholesale business by recruiting advanced managerial methods and market techniques, new technology, and financial resources.
Banking: $30 million to gain access to foreign capital, international markets, external funding sources, and new banking techniques.