VOICED : Cuba: nueva Ley de Inversion Extranjera

The Cuban Parliament approved a new foreign investment law to replace the 1995 law by Fidel Castro. This law aims to attract fresh capital by offering tax benefits and ensuring non-expropriation of investments. Despite economic reforms by Raúl Castro, Cuba's economy remains stagnant, with investment deficits affecting sectors like agriculture. The law is crucial for Cuba, which has faced a US embargo for decades. The approval follows the opening of Mariel Port, built with Brazilian investors, aiming to become a regional logistics hub with an industrial free zone for foreign companies.

What was the main purpose of the new foreign investment law approved by the Cuban Parliament?

• To increase military spending

• To attract fresh capital to Cuba

• To strengthen ties with the United States

• To reduce taxes for local businesses

Why is the new foreign investment law considered crucial for Cuba?

• It aims to end the U.S. embargo

• It plans to increase agricultural exports

• It addresses the investment deficit affecting key sectors

• It focuses on improving tourism

What significant development occurred two months before the approval of the new law?

• The launch of a new agricultural policy

• The signing of a trade agreement with the U.S.

• The inauguration of the Mariel port

• The opening of a new airport

Who were the partners in constructing the Mariel port?

• European Union investors

• Russian investors

• Brazilian investors

• Chinese investors

What is the strategic goal of the Mariel port?

• To become a regional logistics hub

• To focus on local fishing industries

• To serve as a military base

• To develop a new tourist attraction