General Foreign Investment Policy Principles
1.To conceive of foreign investment as a source for the country’s short, mid and long range economic development. Access to cutting edge technologies, securing
managerial methods, diversifying and broadening export markets, replacing imports,
access to foreign financing, creating new job sources and securing greater incomes on
the basis of production linkage with the domestic economy are objectives that should be
proposed in order to attract foreign investment.
2.To secure new managerial methods that contribute to achieving a better market
position, increased productivity and profitability, efficiency of complex investment
processes and their assimilation by the rest of the economy.
3.To immediately prioritize foreign investment directed to replacing food imports.
4.To encourage the development of comprehensive projects generating production
linkage in the search for collective efficiency. These projects may be executed with one
investor or with several having this mutual interest.
5.Corresponding to the country’s demographic dynamics, foreign investment must allow
access to cutting edge technologies that increase productivity and permit efficient use of
6. To contribute to changing the country’s energy matrix by taking advantage of renewable
energy sources, using solar and wind power and power from agro-industrial waste such
as sugar cane, forestry and scrub (marabu) biomass, generation of water and biogas
7.To consider the participation of foreign capital in the complementation of national
scientific and technological development projects, preserving intellectual property over
the results obtained, especially brand names and patents created by the Cuban Party.
8.To consider foreign investment in certain economic sectors and activities as an active
and fundamental element for growth.
9.To consider agricultural and foods industry production as prioritized sectors along with
tourism, including health, the development of energy sources especially renewable
energy, the exploration and exploitation of hydrocarbons and mining resources and
construction or improvement of industrial infrastructures.
10.To guide the greater part of foreign investment towards export sectors. Moreover, to
direct it towards eliminating bottle-necks in the production chain, encouraging
modernization, infrastructure and changing the technological model in the economy as
well as ensuring efficient satisfaction of the country’s needs with the aim of replacing
11. To encourage foreign investment on the basis of a broad-based and diverse Portfolio of
Projects. To focus promotion by stages and potential sectors/activities and to encourage
diversification in the participation of business people from different countries. To
prioritize massive promotion for the Special Economic Development Zones starting with
the work by the Special Economic Development Zone of Mariel.
12. To consider prioritized activities implying transfer of technology, production linkage,
carried out in areas having lesser economic development or contributing to increasing
the efficiency of the production chain.
13.In the extraction of natural resources, providing public services, developing
biotechnology, wholesale commerce and tourism; Cuban participation will always
constitute the majority share.
14.Among the requirements for approval of foreign investment businesses, introducing
criteria planning a balance of payments over time; this element will be considered to be
among the decisive indicators for approval.
15.In foreign investment businesses there shall be no free contracting of the workforce
other than in exceptions foreseen by law. The employer-entity will be maintained as a
business organization and its aim will be to supply and control the workforce.
Salaries will fit the work contributed, efficiency and the added value generated by the
enterprise. Payment for the workforce services is negotiated between the employer-
entity and the enterprise having foreign capital on the basis of what has been
established by the Ministry of Labor and Social Security. To eliminate concepts of salary scales and establish a minimum wage. Contracted
employees will earn a salary higher than the minimum wage established.
16. Foreign investment may be directed selectively towards development of non-state
ownership forms with juridical personality, prioritizing the cooperative sector.
17.State goods will not be transferred in property other than in exceptional cases where
they will be destined for purposes of the country’s development and they do not
adversely affect the political, social and economic foundations of the State.
18.Exclusivity rights are not granted on the Cuban market; the foreign partner has equality
of conditions with third parties and may be supplier and client of the business.
19.In projects aiming at exporting goods or services, the foreign Party shall guarantee the
20.The country’s shortage in construction capacity cannot stop the development of the
process of foreign capital investments. Alternatives required to prevent it may be
assessed even contracting foreign labor force.
21.Bidding for design and construction services between foreign and Cuban enterprises
whenever the complexity of project so requires, in accordance with regulations in
legislation in force about the country’s investment process.
22. To authorize establishing enterprises having 100% foreign capital for executing
investment projects having the complexity and important that requires it especially for
the development of industrial infrastructure through special turnkey contacts such as:
Engineering, Procurement and Construction Contracts (IPC); Engineering, Procurement
and Construction Management Contracts (IPCM); Building, Ownership, Operation and
Transfer Contracts (BOOT), Building, Transfer and Operation Contracts (BTO).
23. In principle the setting up of bank accounts abroad will not be authorized nor the
acceptance of external guarantees compromising the retaining of Cuban flows in banks
24. The economic information requested for foreign investment will be made compatible
with international indicators used to measure the results. To publish statistics that will
25. Any increase to the investment budget will be assumed by the International Economic