UNIDO launches investment promotion platform in Cuba

UNIDO’s Investment and Technology Promotion Office (ITPO) in Italy officially set up and launched a new investment promotion web platform of the Ministry of Foreign Trade and Foreign Investment of Cuba (MINCEX) on 30 November 2021. The platform was developed as part of the project “Capacity building on investment for Cuban Government” funded by the Italian Agency for Development Cooperation. The platform is now available from anywhere in the world for the consultation of selected local investment projects classified by priority sector, as a promotional tool to increase the capability of the country to attract foreign investors.

Furthermore, UNIDO ITPO Italy acquired laboratory and measuring equipment to strengthen and develop capacities at the National Packaging Center of Cuba (CNEE), part of the Ministry of Industries of Cuba (MINDUS). The commissioning ceremony held on 3 December was opened by CNEE Director Miriela Valle Cepero, who thanked UNIDO ITPO Italy for all the capacity-building services provided to CNEE – including personnel training, workshops and specialist recruitment, the development of institutional collaborations, updated policies and more – which will serve as a guiding force for compliance with international standards towards increased national exports.

Deborah Rivas, MINCEX Vice Minister, and Carlos Luis Jorge Mendez, General Director of Investments, also praised UNIDO ITPO Italy for several activities recently implemented within the framework of the project, among these, the launch of VUINEX – the Single Window for Foreign Investment, aimed at reducing time frames necessary to start a business in the country – and the UNIDO’s Computer Model for Feasibility Analysis and Reporting (COMFAR) training, with license kits to be installed in every province of Cuba to facilitate the evaluation of investment proposals. Thanks to the support of UNIDO ITPO Italy, it was ultimately agreed to strengthen the cooperation between MINCEX and UNIDO, in order to further boost the promotion of local investment opportunities for inclusive economic growth in Cuba.

Read the press release here.

For further information contact Weixi Gong (W.Gong [at] unido.org (W[dot]Gong[at]unido[dot]org))