Cuba is working on changes of the law on the participation of foreign capital, Yamila Fernandez, director for Finances of the Foreign Ministry for Foreign Trade and Investment (MINCEX), said on Thursday in Havana.
Fernandez pointed out that a new law should be enacted before December, 2012, while addressing participants in a panel on the Cuban economic model, held in the final session of the 8th International Meeting on Accountancy, Audit and Finances.
Likewise, she said that efforts are being made for the preparation and updating of the portfolio of projects and businesses with foreign capital, with adequate studies of pre-feasibility.
In this regard, she insisted that foreign investment will continue to be supported, as a complement to national investment efforts, with emphasis on prioritized sectors. This activity should favour access to technologies, contribute financing and access to markets, and generate jobs, she added.
The official also stressed that concentration of purchases started in 2011, in order to improve this capacity in the country and favourably influence the balance of trade, by way of reduction of imports. On the other hand, she reiterated that, for the island, food production is a strategic issue, so suburban development of agricultural and livestock production and credit opportunities for farmers are vital, among other steps.
(ACN)
