LatinNews Daily - 04 November 2020

* The Cuban government has formally opened its Ventanilla Única de la Inversión Extranjera (Vuinex), an office that will act as a ‘one-stop shop’ for foreigners interested in investing in the island. Cuba’s foreign trade and investment minister, Rodrigo Malmierca, explained that Vuinex will be the main point of contact for prospective foreign investors and guide them through any legal processes required to make investments in the country. The idea is that this will help to expedite bureaucratic processes and attract more overseas investment. The Cuban government considers foreign investment to be necessary for the island’s economic development in the face of the recent tightening of the economic sanctions imposed on it by the US. Cuba received over US$1.7bn in foreign investment between 2018 and 2019 according to official figures, but the Cuban government estimates that the country needs to attract over US$2bn a year in foreign investments to ensure its continued development. 

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