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Cuba Commits to Industrial Development, despite US Blockade

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Havana, Cuba.- Cuba continues to work on its industrial development despite the negative impact of the economic, commercial and financial blockade of the United States, said the Minister of Industry (Mindus), Alfredo Lopez.

According to Lopez, the different business groups in the sector are working on import substitution and on boosting exports, activities that are indispensable for advancing Cuba’s economic and social progress.

The country continues to move despite the blockade that has hindered its development for almost six decades, said the Minister from the Havana Convention Center, reporting on his administration to the National Assembly of People’s Power, prior to its third regular session in the 9th Legislature.

In coordination with the Ministry of Economy and Planning and other agencies has worked on import substitution by registering in the 2019 plan a total of 51 lines that generate savings of 99, 500, 000 dollars, says the report presented by Lopez.

Speaking of foreign sales, he said that for this year are planned exports of 93,736,000 dollars (the actual in late May is 29,661,000 dollars, representing 32 percent of the annual plan).

The head of Mindus said that – in general – the situation of maintenance in the industry is deficient and that it is insufficient execution of budgets with respect to that activity.

During the debates of the last three days, Cuban parliamentarians ratified that the national industry works on three fundamental guidelines: substituting imports, increasing exports and strengthening links between production centers and educational entities.

Speaking at the Industry, Construction and Energy Commission, legislators from several localities agreed on the importance of working on these axes because of their positive impact on the economy.

Eloy Alvarez, First Vice-Minister of Mindus, said that the main objective of these guidelines is to transform Cuban industry in a gradual and progressive manner.

This is the basis for Cuba’s industrial development in the iron and steel-mechanical, chemical, packaging, recycling, electronic and automatic sectors, Álvarez added.

At another time, MPs insisted on the importance of maintenance, since it extends the useful life of machinery and equipment immersed in the process of development of the industry.

Since his arrival to the presidency in April 2018, the Cuban President, Miguel Diaz-Canel, has ratified as priorities of the government the defense and the economic-social development of the country.

Diaz-Canel and other Cuban authorities participate this Thursday in accountability sessions of the Ministries of Tourism and Industries.

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