HAVANA, May 17 (Reuters) - Russian and Cuban officials and business leaders on Wednesday announced new perks to entice Russian investors into the Cuban market, the latest sign of fast-growing economic ties between the two long-time political allies.
Boris Titov, head of the Russian delegation of the Cuban-Russian Business Committee, told a forum of Russian entrepreneurs in Havana that Cuba had decisively opened the door to Russian investment.
"They are giving us preferential treatment," Titov told the packed forum in Havana´s Hotel Nacional. "The path is clear."
Titov said Cuba had offered Russian businesses the right to make use of Cuban land for 30 year-terms, an unusual concession to foreign firms in the communist-run country.
He said Cuba would also exempt Russian companies from import tariffs on certain technology, and would allow Russian firms to repatriate their profits, a benefit in Cuba´s state-dominated economy.
The two countries, on opposite sides of the globe, are also considering ways to fast-track shipping between them, Titov said.
"In Soviet times there was a direct port and maritime link," Titov told the forum. "We are analyzing this possibility with the owners of Cuban ships.
what type of economic gain can russia gain in cuba? the country is utterly destroyed. all the industries are paralyzed by the state command economy of the communist party.
the cuban peso has zero value in the real world and the cubans dont have money to buy good and services because the economy is in the tank. salaries are low as 3 dollars a month. the country is competing with haiti and venezuela in becoming the poorest of the americas.
the 30 year lease by the cuban govt is a way to pay the huge debt that they owe to russia.unless the russians wants to invest in the nickel mines on the island then i dont see how they are going to profit from this.
a mujik and his money are soon parted i guess
There doesn't seem to be anything here yet