Cuba gears up for first free trade industry zone
Cuba gears up for first free trade industry zone
AFP Tue, Apr 2, 2013 11:35 PM AEDT
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A Cuban worker transports a block of Jaimanita stone at Roca Real factory in Mariel, 50km west of
Havana, on March 21, 2013. Cuba on Tuesday unveiled rules for its first free trade manufacturing
zone, a vast $900 million project being paid for mostly by Brazil in the port of Mariel near Havana.
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Cuba on Tuesday unveiled rules for its first free trade manufacturing zone, a vast $900 million project being paid for mostly by Brazil in the port of Mariel near Havana.
The Mariel Special Development Zone, a major trial balloon being floated by President Raul Castro's communist government, is slated to feature manufacturing operations both for export and for the Cuban market, as well as a megaport that would take over shipping now done in Havana.
The government on Tuesday published a legal decree in the Official Gazette detailing rules for the area and its operations.
Brazilian multinational Odebrecht is handling the infrastructure on the project, and Brazil is providing $640 million in financing, with Cuba handling the rest.
More:
http://au.finance.yahoo.com/news/cuba-gears-first-free-trade-123520107.html