Mexico also plays its part in investments in Cuba
The Cuban Foreign Investment Law, passed last year, considerably boosted the inflow of foreign capital to the island, but business conditions are still very rigid, said Jaime Torres Escuén, president of the Cuba-Mexico Business Committee.
The businessman, who is also corporate director of Institutional Relations and Government of the producer of industrial and medical gases, believes Caribbean nation should deepen legal certainty for businesses.
"In general you can not own the land where you put your company, for example, or cannot decide directly the qualified personnel because your staff has to be hired through the state," said Torres.
Participate in a trade fair in Cuba, find a state enterprise of this country to act as representative of the foreign company and sell more than $ 50,000 for five straight years, are fundamental steps to enter the Cuban market, says the Mexican official.
However, in 2014, a total of 470 Mexican companies did business with Cuba; 100 of these established extended business on the island.
Mexico is the seventh largest trading partner of Cuba, despite the geographical proximity between the two countries, and its balance with the island grows significantly each year, 486 million dollars in 2012, 507 million in 2013 and 527 in 2014, according to Cuban government’s data.