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UK Companies to Invest $400 Million in Cuba

 
 
 
 
 
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British firms have signed financial agreements with Cuban companies for UK investments of $400 million, including in the energy, agriculture and tourism sectors, the Havana Times reports.

The signing of the investment agreement took place within the framework of a business seminar sponsored by Cuba Initiative in Havana. The three-day meeting started on Tuesday and was attended by Cuban authorities and executives from 32 British companies.

“It was a very successful mission,” Lord Hutton of Furness, co-chairman of the joint Cuban-British Cuba Initiative project, said as quoted by the online publication on Friday, adding that the visit of British businessmen to Cuba came at the right time.

In June, 2008, the European Union lifted the economic sanctions it imposed on Havana in 2003. The United Kingdom is now Cuba’s 9th largest trading partner within the European Union.

In June, 2014, Cuba introduced a new law on foreign investments, lowering taxes and increasing security guarantees for joint ventures.

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