Cuba seeks more than $8 billion in foreign investment

By Associated Press in Havana ( China Daily ) Updated: 2014-11-05 07:59:53

Cuba has asked international companies to invest more than $8 billion in the island as it attempts to kick-start a centrally planned economy starved for cash and hamstrung by inefficiency.

Cuban Foreign Commerce Minister Rodrigo Malmierca Diaz announced on Monday a list of 246 potential projects, from a pig farm to an auto plant, which would cost $8.7 billion to build. The menu of possible investments is a key step in a push for foreign capital that includes the relaxation of investment restrictions and the creation of a special trade zone around a deep-water port west of Havana.

"Cuba is pushing strongly to take advantage of the benefits associated with foreign investment to stimulate development," Malmierca said.

Cuba seeks more than $8 billion in foreign investment

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