• Submitted by: Camila
• Business and Economy
• 10 / 29 / 2014

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The Council of Ministers approved on Friday a portfolio of 246 proposals for foreign capital, amounting to 8,710 million dollars, which will be presented this November at the International Fair of Havana.

The meeting at which the agreement was made was led by Raul Castro. Economy Minister, Marino Murillo, said that the proposals are "an essential aspect in the process of attracting foreign capital."

Among the sectors in which foreign capital may be invested are: food, construction, pharmaceutical and biotechnology industries, renewable energy, among others, in all provinces.

For his part, Minister of Foreign Trade and Foreign Investment Rodrigo Malmierca, referred to the "economic effects" caused by "irregularities in foreign trade."

He said that major problems are linked to poor selection of suppliers by companies and agencies; lengthy negotiation processes; improper handling of goods in the market; problems with transportation and planning; flaws in the system quality assurance and technological indiscipline.