Havana, Cuba.- The Cuban Minister of Foreign Trade and Foreign Investment, Rodrigo Malmierca, said that work is being done to streamline and simplify the processing of permits to establish business in the country, local media reported today.

The flexibility of complementary regulations of Law 118 on Foreign Investment and the creation of the Single Window are part of the actions to make these procedures more expeditious, Malmierca told the local weekly Opciones (Options).

The headline adds that promotional efforts continue, both in events inside and outside the country and an example of this is the celebration of the 4th Investment Forum in the context of the Havana International Fair (Fihav 2019)to open tomorrow.

We created a computer platform that allows interested parties -in advance- to identify and shape the meeting agenda, he explained.

Malmierca pointed out that the preparation of the 2019-2020 Portfolio of Opportunities took into account projects that contribute to strategic axes and sectors conceived in the Basis of the National Economic and Social Development Plan until 2030.

He reaffirmed in this regard that foreign direct investment has great relevance in the Cuban development plan as it is one of the sources of financial resources for the country’s development.

To be held from November 4 to 8 in the Expocuba capital, Fihav 2019 has as a backdrop the recent measures taken by the United States to try to asphyxiate Cuba economically.

In this regard, the Cuban official said that, despite the escalation of the blockade, the application of Title III of the Helms-Burton Act and the Trump administration’s measures against Cuba, trade with the main partners remains at a good level.

In parallel, trade links prosper with other nations in Latin America and the Caribbean, Europe, Asia and Africa, where new business opportunities are opened, he added.