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Since the introduction of the foreign investment law in October 1995, foreign investors have literally flocked to Cuba in their droves. The #77 Law permits foreign investment in just about any area of the Cuban economy. To press, main areas for investment are: Light Industry, Heavy Industry, Textiles, Agriculture, Tourism, Real Estate, Telecommunications & Import - Export.

Presently some 920 branch offices are registered in the Chamber of Commerce, there are commercial ties with over 3 200 foreign companies from approximately 150 countries. The Cuban government is looking for capital, markets and technology via links with foreign enterprises. According to official data, the capital accumulated from these "joint ventures" (May 2000) exceeds 2,500 million dollars. Recently investors have begun heavy capital investments in tourism related real estate developments, Law 77 fully supports such ventures. The foundation of the Cuban Central Bank and a group of banking, financial and commercial institutions opened new avenues for the Cuban industry, in 1997 by facilitating credits for 700 million dollars, taking the form of capital, for labour and technologic investments.

For detailed foreign investment laws, info on investing in Cuba and possible contacts: www.cubafirst.com


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