Cuba's industrial zone closes 2020 with seven new businesses

Cuba's industrial zone closes 2020 with seven new businesses

Business

Cubaplus courtesy of Prensa Latina

The Mariel Special Development Zone (ZEDM, in Spanish), located in western Cuba, showed progress in 2020 with seven new businesses that went into operation, despite the crisis unleashed by the Covid-19, said its general director, Ana Teresa Igarza.

Speaking at the Cuba 2020 Business Forum, held virtually, Igarza said that this progress is achieved thanks to the conclusion of the investment process of the facilities for the final establishment of the new companies in the area.

This is the case of Devox Caribe and Tot Color, dedicated to the manufacture of paints; Arhtis Industries, for the production of diapers, and Resa Caribe, in the logistics sector.

In addition, this year the companies Mariel Solar Energy, which operates solar parks for electricity generation; Nescor, as a food producer, and Brascuba, in charge of cigarettes, were set up in the ZEDM.

These companies market their products within the national territory and in the future could expand to export, said the leading manager.

She also added that in the past months, despite the complex health situation, the territorial and urban planning of the 465.4 square kilometers of the Zone went on, allowing for a better use of the space for the insertion of new businesses.

In total, there are 55 projects approved to be installed in the ZEDM, eight of them with Cuban capital, 30 with 100 percent foreign investment, 15 are mixed ventures and two are international economic associations.

Of the total number of initiatives, 31 are in operation and they generate 8,560 direct jobs, informed Igarza in her presentation before representatives of 93 countries participating in the Business Forum Cuba 2020, event that is closing on Wednesday.

At the opening of the event, Cuba's Minister of Foreign Trade and Investment, Rodrigo Malmierca, presented the new Portfolio of Opportunities for doing business on the island with foreign capital, and of them there are 44 possible projects in the ZEDM