Ever since a new reopening policy has been made public by Cuba, everybody wants to invest in all the island has to offer in many different aspects. Mexican and Yucatecan investors, for instance, have their eyes set on oil, hotels, transportation and the sale of produce, pasta and dairy.
The field is huge; there are economic opportunities for short, medium or long term investments. Beatriz Barreto Uzcategui, President of the Mexico-Cuba Business Binational Chamber, says that at least 40 companies in Mexico have shown an interest in investing in the island, in either the oil, tourism, agricultural, food or construction business.
Raul Castro’s government needs around $2 billion US dollars a year to reactivate the productive and social activity in the island. So far there are two Mexican companies that want to work in Cuba, with a vast experience in the oil business. Because of the drop in international oil prices, companies have seen a rise in the exploration and extraction costs of this hydrocarbon; still, the energy field in Cuba is fundamental.
The Geological Service of the United States estimated between 5 and 7,000 million barrels of oil are yet to be discovered within the island’s territory.
When dealing with Cuba, a country that has been 50 years under economic blockade, the best thing to do is look for investors that have a very high level of social responsibility. There already have been meetings with the Mexican companies that work in the oil business. Landing a project in Cuba may be difficult but there are no impediments for foreign investors.
A led lights plant installation is also on the works, for the renewable energy field.
more recommended stories
Cozumel returns to lead the cruise industry in Mexico and South America
The general director of the Port.
According to Mexican businessmen, the Maya Train project will only be profitable for Quintana Roo and Yucatán
In spite of the planning of.
2018 Merida’s International Festival of the Maya Culture has been cancelled
The State Government reported that it.
Organic products are becoming more popular in Mérida
Everyday, more and more companies offer.
Local transport companies will invest 250 million pesos in new Cancun-Tulum Metrobus
In order to cover the growing.
While Venezuelans suffer and die of hunger, Maduro eats at one of the most expensive restaurants in the world (VIDEO)
A viral video showing Venezuelan president Nicolás.
Tulum’s “La Calma” Ecoresort master plan rejected by Semarnat
On September 12th, the environmental organization.
Organ donation culture increases in Yucatan
September 17, 2018 (ACOM) .- The.
New air route Merida-Villahermosa
Viva Aerobus, Mexico’s ultra-low-cost airline, with.
Criminology expert warns about possible increase of organized crime activity in Yucatán
“Poverty levels in the state of.