Cuba boosts investment attraction in Mariel Development Zone

The attraction of investments in the Mariel Special Development Zone (ZEDM), specifically in energy and food production, this year is higher than in previous periods, despite the complex situation of the country and the global economic crisis, said executives of this strategic enclave of Cuba.

According to a report by Granma newspaper, the Zone (located in the province of Artemisa, 45 kilometers west of Havana) currently has 63 approved projects, including one concessionaire, 39 businesses in operation and seven reinvestments.

Oscar Perez-Oliva Fraga, Business Director of the ZEDM, explained at the recent International Transport and Logistics Fair that this productive and logistics platform aims to promote Cuba's sustainable economic development by attracting foreign investment, technological innovation and industrial concentration.

As incentives, the One-Stop Shop system is promoted, which processes all licenses, permits and authorizations, as well as the delivery of plots of land with seven high-standard infrastructures, and the scheme of financial operations in freely convertible currency.

Perez-Oliva pointed out that the Zone has a double-track railway system with connection to the entire national territory, which allows the operation of up to 30 % of the cargoes by railroad; and there are more than 353 kilometers of roads.

At present, there are 33 businesses in the ZEDM with 100% foreign capital, 16 joint ventures, 12 totally Cuban and two international economic associations, which together have generated 15,907 jobs.