Odisha News Insight

Cuba opens Doors to US Investors

AnaHavana, Nov 6: Cuba has allowed US tractor company Cleber to set up a manufacturing centre in its special economic development zone of Mariel (ZEDM), making it the first US business to enter the country in over half a century.

Cleber aims to produce tractors suitable for Cuba’s agricultural conditions, Xinhua quoted Cleber co-owner Saul Berenthal as saying at the Havana International Fair 2015 on Thursday.

General Director of the ZEDM Ana Teresa Igarza said more than 400 foreign companies have asked for authorisation to enter Cuba.

Five other companies – two from Mexico, two from Belgium and one from Spain – will soon begin to establish themselves in the ZEDM, said the official.

Branded as Cuba’s door to the world, ZEDM is part of the government efforts to attract foreign investment in key sectors such as agribusiness, biotechnology, energy and tourism.

The ZEDM was inaugurated in 2014 and is the first of its kind created by the Cuban government. (IANS)

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