During the Havana International Fair 2025, the Cuban government presented decisions to create a more dynamic business environment for foreign investment. These measures aim to simplify procedures and promote partnerships with the private sector, despite outstanding debts to companies like Chinese firms. President Díaz-Canel highlighted the continued trust of investors in the island.
The 41st edition of the Havana International Fair (Fihav 2025) took place from November 24 to 29 at ExpoCuba, bringing together businesspeople and delegations from 52 countries to promote business and foreign investment in Cuba. President Miguel Díaz-Canel, at the opening, stated: “Here there are businesspeople to whom we owe money, with whom we have not been able to meet all our commitments, and yet they are in Cuba.” He emphasized that these investors “continue to trust in Cuba” with a “sense of commitment” and hope for better times.
Chinese companies like China Auto Caiec, present since 1995, face debts of about 200 million dollars accumulated since 2015 by Cuban entities. Its representative, Wu Han, told IPS that they now work more with the private sector due to the state's limited payment capacity: “We’re facing serious hardship, and we are looking for solutions. We also do not want to abandon state enterprises; it has been many years of cooperation.” Other firms, like Zhaoke (since 2004, 40 million owed) and Liaoning Mec Group (since 1998, 58 million), have adapted to the growing private sector, which includes about 11,000 MSMEs approved since 2021, over 9,000 operating and accounting for 55% of retail sales in Cuban pesos.
At the 8th Investment Forum of Fihav 2025, Deputy Minister Oscar Pérez-Oliva announced measures to flexibilize foreign investment, including foreign bank accounts to bypass U.S. sanctions, autonomy in personnel hiring, and unrestricted wholesale sales to national economic actors with payment capacity. A new decree will replace the current legal framework, eliminating feasibility studies in favor of business plans and reducing evaluation deadlines from 15 to 7 days, with “positive silence” for approvals. In 2025, 32 new businesses from 13 countries were approved (Havana Times reports 1.1 billion dollars committed; Granma, 2.1 billion), with total capital.
Pérez-Oliva reiterated focus on food production and the knowledge economy, promoting partnerships in biotechnology and IT. Currently, there are 376 businesses with foreign capital from 40 countries, and a portfolio of 426 investment projects was updated, with 83 prioritized for export potential. Yanet Vázquez clarified that direct hiring is exceptional, with state agencies as the general rule, and that a new legal framework will facilitate partnerships with the non-state sector to resolve debts through selective swap operations tied to sustainable businesses.