Britain is investing in Cuba’s economy of $ 400 million – RIA Novosti

MEXICO CITY, May 1 – RIA Novosti, Dmitry Znamensky. , Cuba and Britain signed an agreement on investments of $ 400 million into the economy of the island, said Thursday the president of the British side of the joint project “Initiative of Cuba” John Hutton.

Such agreements were reached on the basis of the business forum held in Havana in late April. It is about investing in Cuban agriculture, energy projects and construction of new golf courses.

According to the portal Cuba debate, Hutton praised Cuba adopted legislation on foreign investment, and noted the usefulness of the dialogue, which took place at the British businessmen with the leaders of various Cuban ministries and departments.

In June 2014 the island joined a new law on foreign

investment, regulations replaced 20 years ago. The government lowered the tax burden for investors and increased security of ownership for joint ventures. It is expected that the main directions of foreign investment in Cuba should be agriculture, trade, industry, tourism, construction, energy and mining sector, as well as transport services. According to official figures, the economy needs a direct annual investment in the amount of 2-2.5 billion dollars.