japantiger 4,051 Posted July 10, 2015 Share Posted July 10, 2015 Just returned from a trade delegation session in Cuba. A few points on how they are planning to approach foreign investments and business locating in the country: They very much want to use China's approach to economic modernization and growth; but don't want to trade their Core Communist beliefs for growth; talking out of both sides of their mouth Industrial priorities are unclear as they call out everything from automobile manufacturing to tourism to agriculture Their ICT infrastructure is almost exclusively all Chinese...there is some Wifi available in the country...$4.50 hour For any MNC, taxes on corporate profits will be cut by 50% and gives an 8 year tax holiday outright... no labor or payroll taxes [*]The gov't will have a very heavy hand in hiring and must approve every hire...this is currently keeping any foreign business growth at 0....; the business pays the state; the state pays the employee in Cuban Pesos...Cuban have no access to foreign currency. They want to create a local credit market; but don't really want to open up to the degree where this seems likely in the near term (they want the US to change all it's credit rules for them first). [*]The Gov't goal is for 40% of Cubans to be employed in one of 220 private sector (approved) occupations [*]Travel restrictions for Cubans coming and going are almost all eliminated now [*]The Mariel port will be their main entry point for goods...built with Brazilian loans and being operated by Singapore PSA ...very competitive import fees and regulations hoping for full trade with the US [*]It's gonna be a while before US interests can ramp inside the country Link to comment Share on other sites More sharing options...
TexasTiger 12,835 Posted July 11, 2015 Share Posted July 11, 2015 Thanks for the info. Link to comment Share on other sites More sharing options...
alexava 6,973 Posted July 11, 2015 Share Posted July 11, 2015 Damn Link to comment Share on other sites More sharing options...
japantiger 4,051 Posted July 12, 2015 Author Share Posted July 12, 2015 One more thing, all the officials had been educated outside of Cuba. Link to comment Share on other sites More sharing options...
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