MINCEX Delegation promotes Cuban investment opportunities within a roadshow in Italy

Milan, Turin, Bologna, Padua, Rome - February 17th-21st, 2020

MINCEX Delegation promotes Cuban investment opportunities within a roadshow in Italy

Rome, February 21stIn the framework of the project “Capacity Building on Investment for Cuban Government” UNIDO ITPO Italy and the Embassy of Cuba in Italy, in collaboration with Pavia and Ansaldo Law FirmLegacoop Emilia Romagna and Promex, organized a series of round table discussions on investment opportunities in Cuba, held in Milan, Bologna, Padua and Rome, respectively on 17, 19, 20 and 21 February 2020.

The delegation of the Ministry of Foreign Trade and Investments (MINCEX) involved in the roadshow was led by the Director General of Foreign Investments, Mrs. Déborah Rivas Saavedra, who delivered a presentation on the Cuban economic system to representatives of the Italian business community, focusing on agribusiness, renewable energy, infrastructure, biotechnology, creative industry, handcraft and tourism.

Within the round table discussions, the MINCEX delegates had the opportunity to meet with Italian institutional and business stakeholders, in order to provide them with an overview of the investment climate and opportunities in Cuba.
It was also a good opportunity to present the VUINEX one-stop window for investment, recently launched by MINCEX in order to facilitate and reduce the time to set up a business in the Country for both foreign and local investors. 
During the presentations, the Cuban Delegates had the chance to learn about the Italian one-stop shop - Sportello Unico per le Attività Produttive (SUAP), designed to simplify registration and investment procedures for companies.

The Roadshow ended in Rome on 21 February with a morning round table organized at UNIDO ITPO Italy’s premises, featuring the MINCEX delegation and as well as representatives of the Italian Trade Agency (ITA), the governmental agency for the internationalization of Italian SMEs. The meeting was very effective in facilitating the exchange of views on ITA and MINCEX’s activities and services.

Following a meeting with Mr. Luca Sabbatucci, the Director General for Global Issues at the Italian Ministry of Foreign Affairs, the MINCEX delegation met with a number of Italian entrepreneurs at the Embassy of Cuba in Rome, within a session that featured the opening remarks by the Cuban Ambassador to Italy, H.E. Mr. José Carlos Rodriguez Ruiz. In this framework, Ms. Saavedra underlined the keen interest of Cuba in foreign investment and the commitment of the country in simplifying investment procedures for investors.

On the sidelines of the round tables, the MINCEX representatives also had the opportunity to visit some Italian manufacturing companies, who are interested in continuing or starting a business collaboration with Cuba, e.g. BoeroLavazza in Piedmont and Alce Nero in Emilia Romagna.

The Roadshow organized in Italy proved to be an important opportunity to explore best practices in the Italian and Cuban investment systems and to strengthen synergies between stakeholders, with the aim of fostering Italian investments towards the Cuban growing market.