Caracas - Cuba and Venezuela will increase investment in tourism, the oil and iron and steel industries, among other sectors, Venezuelan Minister of Foreign Trade, Jesús Faría, noted yesterday, Wednesday, June 15, during an economic forum held with Cuban representatives.

Speaking to Prensa Latina at Venezuela’s Central Bank, the Minister noted that the historic relations of cooperation between Havana and Caracas ensure the future of Venezuelan investments on the island.

He also highlighted the growth of tourism, a sector which requires supplies such as marble, foodstuffs, cement and other specific provisions, produced by the domestic industry and which businesses are willing to offer to the island.

Faría also referred to the possibilities that the Venezuelan state offers businesses to set themselves up in other countries, access credit, raw materials and cut production costs, aimed at making the non-oil industry a more competitive sector.

Meanwhile, Michel Parra, representing Bituplast, a company producing waterproofing materials, noted the firm’s aim to improve its position in the construction market, where it is already offering high quality asphalts for roofing, to provide enhanced protection against the weather.

On the Cuban side, Ambassador Rogelio Polanco requested that those participating in the forum study the opportunities the island is offering, while recalling the collaborative ties that unite the governments of Caracas and Havana.

Cuban Deputy Minister of Foreign Trade, Roberto López, and other officials of the island’s delegation, offered a detailed explanation of the investment projects – totaling more than 300 – in which Cuba is seeking foreign partners.

They emphasized the Mariel Special Development Zone, currently the largest construction and investment project of the Cuban government, which has seen proposals presented by 400 companies from over 30 countries.

The event was attended by the President of the Central Bank of Venezuela, Nelson Merentes, and more than 150 Venezuelan businesspeople.