Cuban Ambassador to Trinidad and Tobago, Gustavo Daniel Véliz Olivares, says Cuba’s reforms are aimed at creating a more open economy while leveraging its greatest asset – its people and their expertise.
Speaking during a seminar at the Trade and Investment Convention, he said the country is seeking to strengthen its economic ties with international partners, and expand trade opportunities despite ongoing economic challenges.
Cuban Ambassador to Trinidad and Tobago, Gustavo Daniel Véliz Olivares says Cuba is positioning itself as an investment destination, despite the economic challenges posed by international sanctions.
Speaking at the Trade and Investment Convention on Friday, he said Cuba remains open to trade and investment, highlighting the country’s highly skilled workforce, scientific expertise and opportunities for trade and investment partnerships.
“This is in my personal opinion, also one of the reasons that we are punishing because in Cuba everyone has a lot of opportunity. We don’t have enough resource, of course, but we have knowledge.”
Ambassador Véliz Olivares said Cuba is taking steps to modernize its economy, with the approval of 176 initiatives creating a more open economic environment, while rejecting claims that Cuba is closed to international investment.
“We just approved, and this is very important to understand, we just approved 176 initiative actions or measures belong or organized in general in more than 20 areas with the purpose of be, according to the speech today, more open. Not anyone can say that Cuba is closed. That is false, or this is less interpretation.”
The Ambassador said however that Cuba’s economic strategy focuses on increasing local production, diversifying economic activity and attracting foreign investment.
“The strategy is looking to, of course, increase domestic production, diversify of economy management. This is very important because people say Cuba, as I said before, Cuba closed and China is open, whatever. We try to make a combination according to our, of course, to our internal situation. Attract foreign investment like every country, like here in Trinidad and Tobago.”
The Ambassador encouraged regional businesses and investors to explore opportunities in Cuba, as the country continues efforts to strengthen international partnerships and expand private-sector participation in its economy.