EY Cuba Presentation - ZED Mariel Open to the World, Nov 2015

1 ZED Mariel: open to the world
www.zedmariel.com
OPEN TO
THE WORLD
zed mariel
zona especial de desarrollo mariel
November 2015
DIGITAL VERSION

Contents
01. Why Cuba?
02. The Hub to the Americas
03. International Relationships
04. Cuba-US Relations
05. Foreign Trade
06. Doing Business with Cuba
07. Modernization of Economic
Framework (2010-2015)
08. Infrastructure
09. Social Indicators
10. La Habana
11. Tourism
12. Artemisa Province
13. TC Mariel
14. ZED Mariel: Overview
15. Legal Framework
16. Fiscal Rules
17. Administrative Procedures
18. Employment Matters
19. Sector A Project Development
20. Priority Sectors
21. 2015 Projects Portfolio
22. Approved Users
23. FAQs
24. Future vision of ZED Mariel
25. EY/CONAS
Construction work is ongoing in Zone A3 where some
of the first high-tech companies will be located. This
zone may also have some recreational facilities along
the attractive shoreline.

3ZED Mariel: open to the world
Zona Especial de Desarrollo Mariel (ZED
Mariel) is a long-term visionary project,
which is destined to play an important role in
Cuba’s economic modernization process.
The total area covered by the ZED Mariel
legislative framework is 465.4km2
located in
the Northern part of Artemisa province, 45 km
West of Havana city. At the center of this area
is Sector A, which covers 4,372 hectares on
the Western side of Mariel Bay. The modern
container terminal, TC Mariel, which opened on
January 27, 2014, forms part of Zone A7.
Over the past year major investments have
been made in developing the necessary
infrastructure in the first zones to be
developed within Sector A. This builds on
improvements made in past years to the
external infrastructure, including upgrades of
road and rail links from Havana.
Over 6,000 construction workers have been
working to transform this greenfield site into
a modern platform where investors will be
able to plug into world-class infrastructural
and logistical services. Outside of Sector
A, land is available for renewable energy
projects, hotel, resort and golf course
development as well as other forms of real
estate.
The ZED Mariel administrative center will
be ready in early 2016 and parcels of land
are now available for the first international
investors to break ground.
The detailed Master Plan of Sector A, currently
in its second phase is being undertaken by
Bouygues Bâtiment International, which is
working with a futuristic vision in the conception
and design of its urbanization, in compliance
with the best international practices, under the
concept of “high environmental quality” (HQE).
ZED Mariel is not a Free Trade Zone fenced
off from the rest of the country. Instead,
it forms an integral part of the national
territory for practical and legal purposes.
The development of this area represents
an important element of Cuba’s foreign
investment approach, which has targeted the
attraction of US$ 3 billion annually in new
greenfield Foreign Direct Investments (FDI).
It is important to understand the regional
context of Cuba, not just in terms of the
improving relationship with the U.S., but
within Latin America and the Caribbean as
well as more globally. Although Cuba has been
cut off from the U.S. for the past 50 years, it
has never been isolated from the rest of the
world and has deep longstanding and multi-
faceted relationships with many countries.
ZED Mariel: Open to the World
www.zedmariel.com
This presentation has been prepared by EY
& CONAS on behalf of the Oficina de la ZED
Mariel. Its purpose is purely informative and
is intended to provide a general outline of the
subjects covered. It should neither be regarded
as comprehensive nor sufficient for making
decisions, nor should it be used in place of
professional advice. We advise that users of this
document consult their own legal advisors and
professional consultants regarding investment
in Cuba. Neither EY nor CONAS accepts any
responsibility for any loss arising from any
action taken or not taken by anyone using this
material.
All photos are subject to copyright ©.
The sobriquet ‘Pearl of the Antilles’ is well
deserved for Cuba, not just for the many
sites of natural beauty, culture and historic
architecture, but also for the achievements
made over the past 50 years in areas such
as health care, education and sport. These
social factors are important in any evaluation
of Cuba and are outlined in section 9 of this
document.
We have provided economic data and other
information regarding international trade and
Cuba’s existing regulatory framework as well
as the country´s past experience with FDI.
It has been our pleasure putting together this
Guide to ZED Mariel on behalf of the Oficina
de la ZED Mariel. We would be delighted to
receive any feedback or questions which you
may have regarding this Special Economic
Zone.

Cuba has good political, economic and trading
relationships within the region and globally.
Cuba occupies a strategic location in the heart
of the Caribbean, ideally located to become
the hub to the Americas in shipping and
aviation and, in the longer term, as a business
and financial center leveraging the unrivalled
attractions of living in Havana.
At 1,200 miles long, Cuba is the largest
country within the West Indies archipelago. The
sobriquet ‘Pearl of the Antilles’ is well deserved
There is a level of culture, history, architecture
and sites of natural beauty unrivalled within the
region.
The ZED Mariel offers a world-class production
and logistics platform, which will facilitate a
greater level of domestic production reducing
import costs, boosting growth, providing
employment and facilitating foreign direct
investment.
Cuba’s underlying infrastructure is strong in
transportation, energy and telecoms. Ongoing
investment needs provide opportunities for
foreign direct investment going forward.
The Cuban workforce is well educated and
highly skilled. Cuba has a high participation
rate in tertiary education (62%) and world-
class universities especially strong in medicine,
engineering and information technology.
There is a stable legal, economic and political
framework. Cuba’s reported 4.7% economic
growth in the first half of 2015 is amongst the
fastest within the region. Inflation was reported
at 3.6% in 2014. As the US blockade is further
relaxed and ultimately lifted, Cuba is likely to
see a significant boost to its ongoing economic
growth potential.
An ongoing boom in the tourism sector,
evidenced by a 17.2% year on year increase
in the 8 months to 31 August 2015, has
been partly driven by the relaxation of travel
restrictions for US citizens. This is driving
demand for investment in hotel capacity and
other associated infrastructure and services.
The development of a Cuba strategy is a must
for regional players in the hospitality sector.
In 2014, the UNDP ranked Cuba 2nd within
Latin America & the Caribbean and 44th out of
187 nations on its Human Development Index
(HDI). This reflects Cuba’s strong and inclusive
health care system as well as other social
indicators.
There is a strong fabric of society and social
cohesion in Cuba. Low rates of crime, traffic and
pollution make Cuban cities attractive places to
live.
Old Havana is a UNESCO recognized World
Heritage site. Havana has been chosen as one
of the world’s seven most remarkable cities
(New Seven Wonders), one of the top 10
healthiest cities in the world (CNN) and the
safest city in Latin America and the Caribbean
(El País).
01. Why Cuba?

“Everyone dreamed
of Cuba”
Miguel Barnet
Picturesque Valle de los Ingenios was one of Cuba’s most prominent centers of sugar production during the 18th
and
19th
centuries. The area was declared a UNESCO World Heritage Site in 1988.
Photo by Marius Jovaiša, from this book Unseen Cuba (unseencuba.com)

TC Mariel is a world-class container terminal
located 45km from Havana with a current
capacity of 824,000 TEU. This is one of the
best natural harbors in the region, which has
ample greenfield development opportunities
going forward.
Following the full lifting of the US blockade
(specifically the Torricelli Act), TC Mariel
is poised to become a major transshipment
hub given its almost perfect location within
the Caribbean triangle where multiple major
commerce routes intersect. For traffic
transiting the Panama Canal from Asia to the
East Coast of North America, TC Mariel has
a low deviation and short distance to final
location.
The Guillermón Moncada port in Santiago de
Cuba is currently undergoing a modernization
as part of a Cuba-Chinese agreement.
Cuba has a much larger domestic market than
other countries within the Caribbean region—
this makes it attractive for companies to use
the island as a platform for exports. In 2014
Cuba imported merchandise goods of US$ 14.7
billion and exported merchandise goods of US$
5.3 billion.
Cuba is developing three cruise ship terminals
in Havana, Cienfuegos and Santiago de Cuba.
Carnival Corp has announced plans to start
services to Cuba in 2016.
The Office of Foreign Assets Control (OFAC)
of the US Department of the Treasury has
authorized several ferry operators to establish
services from the US to Cuba.
Cuba has developed a world-class marina in
Varadero with berths for over 1,000 boats.
Several other marina projects are under
development throughout Cuba by Cuban public
companies as well as additional marinas that
will be part of several mega golf course/marina
developments.
The Gulf Stream, which passes close to Cuba’s
northern coast, sees a massive boating traffic
each year. Recent relaxations of measures
6
02. The Hub to the Americas

pertaining to the US blockade make it much
easier for US leisure craft to visit Cuba.
Cuba attracts over three million visitors
annually arriving at one of its 10 international
airports. Over 20 major international airlines fly
into Cuba from more than 25 countries offering
a range of options for business and vacation
travelers. Additional carriers are entering
the Cuban market including Iberia which re-
established regular flights in the summer of
2015.
Charter airline travel from the US has increased
dramatically over the past year with new routes
being added on a regular basis. Scheduled
airlines are expected to begin operations soon
following changes in US regulations. Jet Blue,
Delta and others have all expressed an interest
and/or developed partnerships with existing
operators.
Havana’s José Martí international airport will
be subject to a major renovation over the next
few years upgrading its capacity and improving
its facilities. In the longer term it offers an ideal
hub for the Americas combining transatlantic
traffic with intra-American flights. Several
European airlines already use Havana’s airport
as a cargo hub for Latin America.
Other airports around the country including
Varadero and Cayo Santa Maria have also been
upgraded over recent years.
No other city in the region comes close to
Havana for quality of life. There is a depth of
cultural activities, colonial architecture and a
booming social life without the social problems,
contamination and traffic of other cities within
the region. In the longer term Havana is likely
to offer a compelling option for the location
of regional headquarters for companies with a
regional presence.
Panoramic view of the container yard at Terminal de
Contenedores (TC Mariel). In the background is Mariel
Bay, one of the best natural harbors in the Caribbean.

More than 110 countries maintain embassies
in Cuba—the largest number within the region.
Cuba has diplomatic relations with 190
countries and international organizations.
Cuba has been a member of WTO since 1995
and a member of GATT since 1948. Preferential
trade agreements have been signed with all
the countries in Latin America & the Caribbean
through ALADI, Cuba-CARICOM and Cuba-
MERCOSUR.
Cuba has won widespread plaudits for its
leading role in responding to global health
crises and natural disasters. Most recently
a Cuban medical brigade responded to the
emergency caused by the earthquake in Nepal.
Previous assistance was provided to help
deal with the Ebola outbreak in West Africa
(2014-ongoing), as well as to help following
earthquakes in Haiti (2010) and Pakistan
(2005).
Cuba held the Presidency of the Community of
Latin American and Caribbean States (CELAC) in
2013 and in January 2014, successfully hosted
CELAC’s 2nd Summit in Havana, which was
attended by 31 out of 33 regional heads of state.
Cuba chaired the 6th World Health Assembly, which
took place from May 19-24, 2014 in Geneva.
On October 24, 2014, the Financial Action Task
Force (FATF) decided to remove Cuba from its
monitoring mechanisms, acknowledging the work
carried out by the country to prevent money
laundering and the financing of terrorism.
April 10-11, 2015 Cuba participated in the
Seventh Summit of the Americas held in
Panama.
In September 2015. FARC and the Colombian
government announced a peace plan following
three years of talks held in Havana.
Pope Francis visited Cuba from September 19-
22, 2015, (the third visit by a Pope to Cuba in
the last 17 years), reaffirming the excellent and
uninterrupted relations between the Holy See
and Cuba.
Other important visitors to Cuba during 2015
included:
October Penny Pritzker (US Secretary of
Commerce), Robert Fico (Prime Minister of
Slovakia), Cyril Ramaphosa (South African Vice-
President).
September Truong Tan Sang (President of
Vietnam), Cristina Fernández de Kirchner
(President of Argentina), Juan Carlos Varela
Rodríguez (President of Panama).
August John Kerry (US Secretary of State),
Nicolás Maduro Moros (President of Venezuela),
Tomislav Nikolić (President of Serbia).
July Frank-Walter Steinmeier (German Minister
for Foreign Affairs), José Manuel Soria López
(Spanish Minister of Industry, Energy and
Tourism).
May François Hollande (President of France),
Fumio Kishida (Japanese Minister of Foreign
Affairs), Salvador Sánchez Cerén (President of
El Salvador).
March Federica Mogherini (EU foreign policy
chief).
February H.E. Mr. Recep Tayyip Erdogan
(President of Turkey).
03. International Relations
Colombia Nears a Peace Deal With FARC
Rebels

Japanese Foreign Minister Fumio Kishida
makes historic visit to Cuba
José Manuel Soria, Spain’s Industry
Minister in Havana, July 2015
SA-Cuba deepen economic ties: Ramaphosa
Friday 23 October 2015 05:31
Deputy President Cyril Ramaphosa led a high-level delegation
to Cuba with the aim of improving trade relations between the
two countries (Oct 2015).
France´s Francois Hollande in first Cuba
visit
POPE FRANCIS IN CUBA
EU and Cuba push for closer ties as
thaw develops
SA-Cuba deepen economic ties: Ramaphosa
Friday 23 October 2015 05:31

December 17, 2014. Cuba and the US
announce the reestablishment of diplomatic
relations. The US relaxes some sanctions
and travel restrictions. Measures included
an increase of limits for remittances, an
easing of licensing conditions for travel to
Cuba and certain exemptions for companies
providing telecoms services to Cuba or
goods more generally to the non-state
sector.
April 11, 2015. President Obama meets
with Cuban leader Raúl Castro on the
sidelines of the Summit of the Americas,
the first face-to-face discussion between US
and Cuban heads of state in more than half
a century.
April 2015. Cuban Vice-president Miguel
Díaz-Canel receives Andrew Cuomo,
Governor of New York. Cuomo was visiting
Cuba with a group of over twenty American
businessmen.
May 29, 2015. The US State Department
removes Cuba from its list of state sponsors
of terrorism.
July 20, 2015. The US and Cuba reopen
embassies in each other’s respective
capitals. Both had been closed since 1961.
July 22, 2015. Stonegate Bank and Banco
Internacional de Comercio(BICSA)sign a
commercial correspondent bank agreement.
August 14, 2015. US Secretary of State,
John Kerry visits Cuba for the raising of
the American flag ceremony over the newly
opened US Embassy in Havana.
September 16, 2015. During a meeting
with US businessmen, US President Barack
Obama urges them to pressure Congress
into lifting the embargo against Cuba.
September 21, 2015. The US Treasury
Department announces new measures
further relaxing some sanctions and travel
restrictions. American companies are now
allowed to establish certain (primarily
telecoms), businesses with Cuban
companies, hire personnel and export
equipment. New measures also include
facilitation of air and sea transportation,
an increase of travelers under existing
categories, and the removal of limit on
remittances.
September 25, 2015. The US Chamber of
Commerce launches the US-Cuba Business
Council (USCBC) to build strong, strategic
trade relations between the US and Cuba.
September 29, 2015. US President Barack
Obama meets with his Cuban counterpart,
Raúl Castro, at the UN venue in New York in
the framework of the 70th Regular Session
of the UN General Assembly.
On October 7, 2015, Penny Pritzker (US
Secretary of Commerce) visits ZED Mariel
and TC Mariel as part of her official visit to
Cuba.
On October 27, 2015, there were 191
votes for the non-binding resolution
entitled ‘Necessity of ending the economic,
commercial and financial blockade imposed
by the United States of America against
Cuba in the 193-nation General Assembly.
04. Cuba-US Relations
The US Embassy
in Havana re-
opened on July
20, 2015. The
American flag was
raised on August
14, 2015.
Cuban flag flies at embassy in Washington

US Secretary of State John Kerry with Cuba’s Foreign Minister
Bruno Rodriguez during a joint press conference at the Hotel
Nacional in Havana, Cuba, August 14, 2015.
Cuba’s Minister of Trade & Investment Rodrigo Malmierca
Díaz, US Secretary of Commerce Penny Pritzker, and other
governmental representatives at a bilateral meeting in Havana,
Oct 7, 2015
Band From Cuba Plays the White House With 1940s
Havana Rhythms
Cuba’s Foreign Minister Bruno Rodriguez Parilla, left, with Sen.
Pat Roberts, R-Kan, at the Foreign Ministry in Havana, Cuba,
Saturday, June 13, 2015. Also pictured are Sen. Jeff Flake,
R-Ariz, second left, and Sen. Susan Collins, R-Maine
Tom Donohue, President of the US Chamber of Comemrce with
Orlando Hernández Guillén, President of the Cuban Chamber of
Commerce, September 2015

Selected countries rank 2009 2010 2011 2012 2013 2014
% change
2014/13
% of total
(2014)
Venezuela, Bolivarian Republic of 1 528 1,717 2,273 2,484 2,266 2,070 -9% 42.6%
Canada 2 431 604 719 551 462 525 14% 10.8%
Netherlands Antilles 7 59 3 29 60 108 76 -30% 1.6%
Brazil 8 63 58 82 108 81 63 -21% 1.3%
Dominican Republic 12 21 23 29 84 46 42 -9% 0.9%
Argentina 22 25 18 19 14 17 22 31% 0.4%
Honduras 24 7 9 16 15 22 19 -14% 0.4%
Mexico 26 14 18 25 24 22 16 -27% 0.3%
Americas 1,249 2,545 3,314 3,547 3,276 2,905 -11% 59.8%
Netherlands 3 238 353 655 698 457 468 2% 9.6%
Belgium 5 8 30 37 40 118 213 80% 4.4%
Spain 6 154 161 165 150 171 141 -18% 2.9%
France 9 45 107 23 28 43 61 42% 1.3%
Russian Federation 10 88 57 56 90 20 56 179% 1.1%
Germany, Federal Republic of 11 29 28 40 43 81 55 -32% 1.1%
Croatia 13 0 0 1 0 0 39 11497% 0.8%
United Kingdom 14 7 19 37 22 101 34 -66% 0.7%
Italy 15 29 38 51 33 56 29 -48% 0.6%
Denmark 18 18 1 2 1 0 25 5850% 0.5%
Belarus 19 1 0 14 36 1 23 4362% 0.5%
europe 719 854 1,215 1,280 1,291 1,246 -3% 25.6%
China, People´s Republic of 4 516 681 778 459 344 302 -12% 6.2%
Cyprus 16 44 29 39 33 29 28 -2% 0.6%
Vietnam 17 3 3 5 8 26 27 4% 0.6%
Singapore 20 35 186 27 32 35 23 -34% 0.5%
asia 650 959 1,029 614 637 518 -19% 10.7%
total 2,863 4,550 5,870 5,577 5,283 4,857 -8% 100%
Merchandise
EXPORTS from Cuba
to country
of destination
All figures US$ millions
Source:
Oficina Nacional de Estadísticas e Información
(ONEI)
Cuba has a large surplus on its services account,
which largely offsets the deficit on the current
account.
This services surplus includes significant income
from Cuba’s medical professionals, teachers,
sports coaches (and others), who work as part of
missions to countries including Venezuela, Brazil,
South Africa and the Middle East.
05. Foreign Trade

Selected countries rank 2009 2010 2011 2012 2013 2014
% change
2014/13
% of total
(2014)
Venezuela, Bolivarian Republic of 1 2,608 4,302 5,902 6,079 4,802 5,189 8.1% 39.8
Brazil 4 508 444 644 648 614 587 -4.4% 4.5%
Mexico 5 323 360 450 487 508 443 -12.8% 3.4%
Canada 6 310 331 479 387 451 408 -9.4% 3.1%
United State of America 8 598 406 434 509 402 389 -3.1% 3.0%
Argentina 9 120 129 149 120 371 336 -9.4% 2.6%
Netherlands Antilles 17 0 39 150 30 1,241 94 -92.4% 0.7%
Panama 24 64 60 87 75 101 57 -43.6% 0.4%
Colombia 25 50 47 68 51 57 55 -4.4% 0.4%
Trinidad and Tobago 26 32 31 45 43 35 51 47.8% 0.4%
Americas 4,834 6,384 8,696 8,667 8,815 7,857 -10.9% 60.3%
Spain 3 752 785 1,020 1,006 1,227 1,025 -16.4% 7.9%
Italy 7 324 292 388 381 460 392 -14.9% 3.0%
Germany, Federal Republic of 10 280 269 286 311 344 323 -6.1% 2.5%
France 12 140 190 344 360 412 277 -32.6% 2.1%
Russian Federation 14 195 227 224 252 183 138 -24.9% 1.1%
Ukraine 15 17 13 44 37 167 115 -31.1% 0.9%
Netherlands 16 68 61 73 94 87 107 23.3% 0.8%
Belgium 19 36 45 62 66 79 79 -0.6% 0.6%
United Kingdom 22 32 50 80 61 67 65 -2.8% 0.5%
europe 2,041 2,158 2,830 2,954 3,365 2,870 -14.7% 22.0%
China, People´s Republic of 2 1,171 1,223 1,281 1,237 1,534 1,334 -13.0% 10.2%
Vietnam 13 276 266 309 190 188 242 29.0% 1.9%
South Korea 18 112 94 129 110 98 88 -9.7% 0.7%
Japan 20 89 78 79 54 71 73 1.7% 0.6%
India 23 51 53 64 62 67 62 0.5% -7.3%
asia 1,842 1,832 2,024 1,786 2,127 1,928 -9.3% 14.8%
Algeria 11 169 213 309 331 308 292 -5.0% 2.2%
Africa 177 222 328 352 356 307 -13.5% 2.4%
total 8,906 10,644 13,952 13,801 14,707 13,037 -11.4% 100%
Merchandise
IMPORTS to Cuba
from country
of origin
Source:
(ONEI)

item 2011 2012 2013 2014
% change,
2014/13
% of total,
2014
* Petroleum related products 2,682 2,697 2,613 2,327 -10.9% 47.9%
• Nickel (& other ores) 1,465 1,060 768 795 3.6% 16.4%
• Cork and wood 12 20 26 30 16.0% 0.6%
Crude materials 1,480 1,082 796 828 4.0% 17.0%
• Medical and pharmaceutical products 523 554 601 592 -1.4% 12.2%
• Chemical materials and products 37 40 43 52 21.1% 1.1%
• Organic chemicals 15 22 32 29 -11.8% 0.6%
Chemicals and related products 583 620 681 679 -0.3% 14.0%
• Sugar 361 456 432 389 -9.9% 8.0%
• Seafood, fresh and frozen 66 66 71 80 12.3% 1.6%
• Natural honey 15 15 17 23 38.9% 0.5%
• Coffe, cocoa, other 5 8 10 8 -27.4% 0.2%
Food and live animals 483 570 549 508 -7.6% 10.5%
• Rolled cigars 215 218 232 217 -6.4% 4.5%
• Tobacco leaves 4 5 8 6 -22.6% 0.1%
• Cigarettes 3 1 4 3 -31.5% 0.1%
• Cigars & tobacco 223 224 245 227 -7.4% 4.7%
• Alcoholic beverages (mainly rum) 93 92 154 95 -38.1% 2.0%
Beverages and tobacco 316 317 398 322 -19.2% 6.6%
• Iron and steel 94 83 72 65 -9.7% 1.3%
• Cement 35 40 27 16 -41.7% 0.3%
Manufactured goods 145 145 112 94 -16.1% 1.9%
Machinery and transport equipment 136 105 101 84 -17.0% 1.7%
Miscellaneous manufactured articles 46 40 32 17 -48.6% 0.3%
total value of exports 5,870 5,577 5,283 4,857 -8.1% 100.0%
Merchandise
EXPORTS from Cuba
by classification
of product
* Petroleum-related products may include
some other products not broken down.
Source:
(ONEI)
Cuba’s exports fell by 8.1% in 2014. This was
largely driven by a fall in petroleum related
products (-10.9%), nickel & other ores (3%) and
sugar (-9.9%). Falling worldwide commodity prices
during this period largely drove these falls.

Merchandise
IMPORTS from Cuba
by classification
of product
item 2011 2012 2013 2014
% change,
2014/13
% of total,
2014
* Petroleum related products 6,370 6,475 6,343 5,619 -11.4% 43.1%
• Cereals (rice, wheat, corn) 906 756 822 838 1.9% 6.4%
• Dairy products and eggs 220 192 214 289 34.6% 2.2%
• Meat and meat preparations 284 311 322 283 -11.9% 2.2%
• Animal feed (not including unmilled cereals) 198 158 208 220 6.1% 1.7%
• Vegetable oils (soybean oil) 146 165 120 147 22.9% 1.1%
• Leguminous vegetables and fruit 113 91 120 123 3.1% 0.9%
• Beverages and tobacco 37 28 50 55 8.6% 0.4%
Food & Drink 2,047 1,838 2,018 2,120 5.0% 16.3%
• Herbisides/insectisides 223 215 242 231 -4.7% 1.8%
• Plastics 230 207 224 194 -13.4% 1.5%
• Fertilizers 212 227 189 215 14.0% 1.7%
• Medicinal and pharmaceurical products 149 150 169 166 -1.8% 1.3%
• Essential oils (toiletries and cleaning products) 107 114 132 149 12.4% 1.1%
• Seeds and oleagenous fruits 88 117 124 128 2.7% 1.0%
• Paints (& other) 100 95 113 90 -19.7% 0.7%
Chemicals and related products 1,451 1,464 1,598 1,444 -6.1% 11.1%
• Manufactured metals (cans/bolts etc.) 298 321 378 301 -20.5% 2.3%
• Iron and steel 372 279 333 200 -40.0% 1.5%
• Rubber (tires/transmission belys) 198 232 195 175 -10.5% 1.3%
• Nom-metallic (tiles/bottles, etc.) 158 190 178 156 -12.1% 1.2%
• Yarn, fabrics, textile 127 137 150 125 -16.7% 1.0%
• Paper, cardboard, other 146 154 152 107 -29.8% 0.8%
Manufactured goods (by material) 1,396 1,415 1,503 1,134 -24.5% 8.7%
• Industrialmachinery(pumps,bearings,parts,etc) 544 496 675 504 -25.3% 3.9%
• Electricalmachinery(batteries,lamps,transformers,etc) 427 451 563 477 -15.3% 3.7%
• Motor vehicles & spare parts 282 306 331 245 -26.0% 1.9%
• Telecoms (other) 80 86 112 94 -16.0% 0.7%
• Office machinery 56 56 70 62 -11.8% 0.5%
Machinery and transport equipment 1,954 1,940 2,525 1,978 -21.7% 15.2%
• Professional, scientific, instruments 146 145 162 203 25.1% 1.6%
• Footwear 115 116 123 103 -16.4% 0.8%
• Apparel and clothing 87 77 91 80 -11.5 0.6%
Miscellaneous manufactured articles 732 667 776 741 -4.5% 5.7%
total value of IMPORTS 13,952 13,801 14,707 13,037 -11.4% 100.0%
* Petroleum-related products may include
some other products not broken down.
Source:
(ONEI)
Cuba’s Imports fell by 11.4% in 2014. This was
largely driven by a fall in petroleum related
products (-11.4%), which was due to lower global
prices.
Manufactured goods and machinery and transport
equipment imports fell by 24.5% and 21.7%
respectively, across virtually all categories of
imports. Food & drink products increased by 5%.

Double taxation
agreement entered into
force
Preferential Trade
Agreement
Agreement for Reciprocal
Promotion & Protection of
Investments (ARPPI)
Government export
credit facility available
Barbados 17 Mar 2000 CARICOM Feb 19, 1996 -
Brazil - LAIA Jun 24, 1997 BNDES
China Oct 17, 2003 Jan 1, 2001 Apr 20, 1995 EXIM Bank China
France - - Apr 25, 1996 COFACE
Germany - - Apr 30, 1996 HERMES
Italy - - May 7, 1993 SACE
Japan - Aug 1, 1971 - NEXI
Mexico - LAIA May 30, 2001 Bancomext
Panama - LAIA Jan 27, 1999 Yes
Portugal Jul 5, 2003 - Jul 8, 1998 -
Russia Nov 15, 2010 Jan 1, 2010 July7, 1993 Yes
Spain Dec 31, 2000 - May 27, 1996 CESCE, COFIDES S.A.
Switzerland - Mar 1, 1972 Jun 28, 1996 -
Venezuela May 6, 2005 LAIA Jun 28, 1996 Yes
Vietnam Jun 26, 2003 - Mar 22, 1996 Yes
UK - - Oct 10, 1995 -
The Republic of Cuba
has agreements with:
Agreements for the avoidance of double
taxation and the Reciprocal Promotion and
Protection of Investments (ARPPI) are in
place with 12 and 63 countries respectively.
The table (see right) shows the agreements in
force with a selection of Cuba’s trading partners.
Cuba has preferential trade agreements with
CARICOM, MERCOSUR and the Latin America
Integration Association (LAIA)
• African, Caribbean, and Pacific Group of States (ACP)
• Community of Latin American and Caribbean States
(CELAC)
• Financial Action Task Force on Money Laundering in
South America (GAFISUD)
• Food and Agriculture Organization (FAO)
• Group of 77 (G77)
• International Atomic Energy Agency (IAEA)
• International Chamber of Commerce – national
committee (ICC)
• International Civil Aviation Organization (ICAO)
• International Criminal Police Organization (Interpol)
• International Federation of Red Cross and Red
Crescent Societies (IFRCS)
The Republic of Cuba is a member of:
• International Labour Organization (ILO)
• International Maritime Organization (IMO)
• International Mobile Satellite Organization (IMSO)
• International Olympic Committee (IOC)
• International Organization for Standardization (ISO)
• Nonaligned Movement (NAM)
• Organization for the Prohibition of Chemical Weapons
(OPCW)
• Permanent Court of Arbitration (PCA)
• United Nations (UN)
• UNICEF
• United Nations Conference on Trade and Development
(UNCTAD)
• United Nations Development Program (UNDP)
• United Nations Educational, Scientific, and Cultural
Organization (UNESCO)
• United Nations Industrial Development Organization
(UNIDO)
• United Nations Institute for Training and Research
(UNITAR)
• World Customs Organization (WCO)
• World Federation of Trade Unions (WFTU)
• World Health Organization (WHO)
• World Intellectual Property Organization (WIPO)
• World Tourism Organization (UNWTO)
• World Trade Organization (WTO)

Reference cuba Costa Rica Colombia
Dominican
republic Jamaica Mexico Panama
Population Million 11.2 4.8 46.4 9.38 2.71 121.7 3.8
Nominal GDP US$ Billion 80.6 50 378 64 14 1,283 46
GDP per person US$ 7,186 5,952 4,549 5,101 5,562 8,626 20,884
PPP per person US$ 6,789 10,415 7,903 6,147 5,290 10,230 11,948
GDP growth, 2014 % 1.3% 3.5% 4.6% 7.3% 2.4% 2.1% 6.2%
GDP growth, Jan-Jun 30, 2015 % 4.7% 3.8% 3.3% 5.1% 1.7% 3.0% 6.1%
Merchandise imports US$ Billion 13.0 17.1 64.0 17.8 5.8 399.9 13.7
Merchandise exports US$ Billion 4.6 11.2 54.8 9.9 1.5 397.5 818.2
Reference cuba Costa Rica Colombia
Dominican
republic Jamaica Mexico Panama
UNDP Human Development
Index (HDI)
Ranking out of
187 countries
44 68 98 102 96 71 65
Life Expectancy Years 79.3 79.9 74 73.4 73.5 77.5 77.6
Infant Mortality Deaths per 1,000
live births 4 9 15 23 14 14 16
Maternal mortality rate Deaths per
100,000 live births 73 40 92 150 110 50 92
Physicians Physicians per
10,000 people 67.2 n.a. 14.7 n.a. 4.1 19.6 n.a.
Literacy rates % aged 15 and
above 99.8 96.3 93.6 90.1 87 93.5 94.1
Mean years of schooling Years 10.2 8.4 7.1 7.5 9.6 8.5 9.4
Pupil teacher ration Number of pupils
per teacher 9 17 25 25 28 28 23
% Enrollment in tertiary
education
% of tertiary school-
age population 62 47 45 33 26 28 42
UDP Gender Inequality Index
(GII)
Ranking out of
149 countries
66 63 92 105 88 73 107
Benchmarking Cuba within the region
Sources: World Bank or IMF reports except for Cuba, which is based on *ONEI figures.
*The ONEI figures are consistent with World Bank figures. The exchange rate used to convert Cuban Pesos into USD is 1:1, (again consistent with the treatment followed by the World Bank for Cuba).
Source: 2014 UNDP Human Development Index report

Cuba opened up to foreign investment in the
1990s following the collapse of the Soviet
Union. Since then, over 400 joint ventures and
International Economic Associations have been
signed.
Cuba imported US$ 13 billion of merchandise
goods in 2014. Of this, US$ 5.6 billion was non-
oil-related. This makes Cuba one of the largest
markets within the region and an important
export market within certain targeted sectors.
As part of the ongoing process of updating
Cuba’s economic model, the government
has taken the following steps with regards to
Foreign Direct Investment (FDI):
• A review of policy towards FDI.
• An annual target of US$ 3 billion in FDI for
Greenfield projects.
• The creation of the Mariel Special
Development Zone.
• The passing of Law No. 118/2014, a new,
more attractive framework for foreign
investment, which replaced Law 77/1995.
• On November 3, 2015 Cuban Foreign Trade
and Investment Minister Rodrigo Malmierca
launched the second edition of the Portfolio
of Opportunities for Foreign Investment.
This included 326 projects with a total
investment value of US$ 8.2 billion. The
2014 version contained 246 projects.
Odebrecht, Bouygues Bâtiment International
and other leading international construction
firms have experience in building infrastructure,
developing hotels and other projects in Cuba.
In-Bev (beer), Souza Cruz (cigarettes),
Unilever (cleaning products) and Nestle (soft
drinks, confectionery) have all developed
products (predominantly) for the Cuban
market.
Pernod Ricard and Tabacalera (owned by
Imperial Tobacco) have helped develop Havana
Club and Habanos S.A., respectively, into world
leading brands.
Sherritt International has developed extensive
mining, oil & gas, and energy interests in Cuba
since the early 1990s. Several other major
oil companies have performed exploratory
work both on-shore and off-shore, including
Repsol, ONGC, Petronas, PDVSA, Sonangol and
Zarubezhneft.
Many of Cuba’s hotels are managed by one
of the more than 18 foreign hotel groups
operating in the country. The largest, the
Meliá Group, manages 28 properties in Cuba.
Other groups include the Canadian group Blue
Diamond (13 properties) and Iberostar (9
properties).
Corporación Andina de Fomento (CAF) held its
first international seminar in Cuba on April 28,
2015. Executive President Enrique García said
CAF had “genuine interest in strengthening its
ties with Cuba.”
June 9, 2015. Moody’s sees the US removal of
Cuba from its list of terror-sponsoring nations
as “credit positive.”
06. Doing Business with Cuba
Italian boutique clothing company Paul & Shark
store in Old Havana’s beautiful Plaza Vieja.

China
Beijing Enterprises Holdings Ltd. is planning to
build a golf & real estate development called
Bellomonte, just east of Havana, which will
include a five-star hotel.
During 2015, Beijing authorities signed 11
agreements to be implemented between 2015
and 2017. These agreements were signed by
the chairman of state holding BioCubaFarma,
Carlos Gutiérrez Calzado, and Ren Zhiwu,
deputy director of the Department of High
Technology at the National Commission of
Development and Reform.
France
May 10-12, 2015. President Hollande visited
Havana with French business executives from
Air France, Accor, Orange, Soufflet and Pernod
Ricard (amongst others).
Coface raised the limit of its line of export credit
to €90 million ($98.8 million) in late 2014.
Italy
July 7, 2015. Italy’s Deputy Minister for
Economic Development Carlo Calenda
announced that SACE and Turin-based Intesa
Sanpaolo S.p.A. would provide a rotating line of
credit of Euro 80 million to back exports to the
island. This news was made during a bilateral
business forum in Havana with 140 Italian
participants.
Japan
April 30-May 3, 2015. Fumio Kishida (Japanese
Foreign Minister) said that Japan will begin
“cooperation on a grand scale,” during a four-
day trip to Havana with 30 businessmen. The
group included executives from Mitsubishi
Corp., Mazda Corp. and Hino Motors Ltd.,
trading companies Itochu Corp., Sumitomo
Corp., Marubeni Corp. and Toyota Tsusho Corp.,
heavy machinery maker Komatsu Ltd., as well
as Bank of Tokyo-Mitsubishi UFJ, Ltd.
Nippon Export and Investment Insurance
(NEXI) restarted a short-term export
guarantee program in 2013.
Korea
February 2015 K-sure signed an MOU with the
Central Bank of Cuba for trade insurance of up
to Euro 60 million.
Russia
October 22, 2015 Cuban Vice President of
the Council of Ministers Ricardo Cabrisas, and
Russian Vice President Dmitri Rogozin sign
six bilateral co-operation agreements. These
include Euro 1.2 billion of financing from Russia
for the development of four 200MW thermo-
electric units at Mariel’s Máximo Gómez (1)
and Santa Cruz del Norte’s Este Habana (3)
to be constructed by Russian Inter RAO. Other
agreements included investment to modernize
the José Martí steel plant as well as a co-
operation between Heber Biotec and Pharmaco.
In March 2015 Foreign Minister Sergey Lavrov
announced that the construction of a cargo
airport on the premises of a Cuban airbase
southwest of Havana.
Uralvagonzavod (UVZ) is making a $26 million
investment in a rail logistics hub. It is also
modernizing and expanding a rail maintenance
and assembly plant in Santa Clara.
Spain
April 16, 2015. Forty-five company executives
accompanied Spain’s State Secretary for Trade
Jaime García-Legaz on a visit to Cuba. The
group, heavy on tourism, construction and
energy, also included the president of CESCE,
Álvaro Bustamante, as well as Joaquín Gay de
Montella, Vice-President of the Confederación
Española de Organizaciones Empresariales
(CEOE), and Modesto Piñeiro, Vice-President of
the Spanish Chamber of Commerce.
Compañía Española de Financiación del
Desarrollo (Cofides) created a Euro 40 million
line of credit for Spanish investments in Cuba
during 2015. CESCE resumed export guarantee
credit for Euro 25 million in 2014.
UK
April 27-30, 2015. Lord Hutton led a
45-member British trade delegation to Havana.
Concluding this visit, London & Regional
Properties Ltd. signed an agreement to develop
the US$350 million Carbonera golf real estate
project near Varadero. Havana Energy, a
subsidiary of Esencia Group, committed to a
$150 million biopower project connected to
Cuba’s sugar industry. Cuba Mountain Coffee
Co. Ltd. agreed to invest $4 million in private
coffee farms in eastern Cuba.

July 2010 Amendment to the Civil Code allows
the granting of surface rights for 99 years and
in perpetuity to joint venture companies in real
estate projects.
Decreto-Ley No. 273 del 19 de julio de 2010 del Consejo
de Estado
April 2011 The 6th Congress of the Communist
Party of Cuba adopts new economic and social
guidelines.
September 2011 Self-employment permits
expanded to 181 categories.
Decreto-Ley No. 284, modificativo del Decreto-Ley No. 278
September 2011 Cubans allowed to buy and
sell post-1959 privately owned motor vehicles.
Decreto No. 292 del Consejo Ministros
November 2011 Real estate markets
liberalized, allowing Cubans to buy and sell
private property.
Decreto-Ley No. 288, modificativo de la Ley No. 65 del 23
de diciembre de 1988: Ley general de la vivienda
December 2011 Central Bank of Cuba adopts
a new credit policy providing access to credit to
cooperatives and self-employed persons.
Decreto- Ley 289 y Resoluciones 99/2011 y 100/2011 del
Banco Central de Cuba
2011 Restrictions relaxed on small businesses
including the lease of state-owned commercial
premises to self-employed persons.
Resolución 516/2011 del Ministerio de Comercio Interior,
Resolución 409 del MFP y Resolución 46/2011 del
Ministerio de Trabajo y Seguridad Social
January 2012 The requirement for an exit
permit to leave the country is lifted.
Decreto-Ley No. 302, modificativo de la Ley No. 1312: Ley
de migración
November 2012 New legislation passed related
to experimental non-agricultural cooperatives.
Decretos-Ley No. 305 y 306 del Consejo de Estado
November 2012 New tax code established.
Ley No. 113/2012 del Sistema Tributario
January 2013 Greater flexibility granted to
Cuban entities regarding the establishment of
pricing.
Resolución 38/2013 Ministerio de Finanzas y Precios
May 2013 Greater flexibility granted to Cuban
entities regarding their secondary social
objectives.
Resolución No. 134/2013 del Ministro de Economía y
Planificación (MEP)
May 2013 ETECSA implements a system for
internet connectivity in 118 commercial offices
around the country.
Resolución No. 197/2013 del Ministerio de
Comunicaciones
September 2013 The Council of State adopts
Decree Law 313 on the “Special Development
Zone of Mariel”.
October 2013 State-owned tourism companies
authorized to enter into direct contracts with
self-employed private owners and pay in CUC.
Resolución 145 de 2013 del Ministerio del Turismo
07. Modernization of Economic
Framework (2010-2015)

December 2013 Agricultural cooperatives,
state farms, and private farmers are authorized
to enter into direct sale contracts with hotels
and other tourism related outlets.
Resolución 581/2013 del Ministerio de la Agricultura,
Resolución 352/2013 del Ministerio de Finanzas y Precios
y Resolución 137/2013 del Ministerio del Turismo.
2013 Various decentralization measures occur,
including the creation of various groups of
companies, formerly under the authorities of
various Ministries, such as Gecomex, Azcuba,
BioCubaFarma, Azcuba, Quimefa.
January 2014 Cuban State entities begin the
sale of cars to the general public.
Decreto No. 320 del Consejo de Ministros
March 2014 Rules relaxed on cellphone data
services for Cuban nationals.
Resolución 8 de 2014 del Ministerio de Comunicaciones
March 2014 Salary for doctors and dentists
raised by over 100% and 70% respectively.
Resolución No. 11/2013 del Ministerio de Trabajo y
Seguridad Social
March 2014 Foreign Investment Legislation
published to establish a new legal framework for
foreign investment in Cuba.
Ley No. 118 de la Inversión Extranjera; Decreto No.
325/2014: Reglamento de la Ley de la Inversión
Extranjera, Resolución 128 y 129 del Ministerio del
Comercio Exterior y la Inversión Extranjera, Resolución
46 y 47 del Banco Central de Cuba, Resolución 16 del
Ministerio del Trabajo y Seguridad Social
April 2014 Employment incentives announced
for ZED Mariel. A *coefficient of 10 is
established for Cuban workers hired through
employment agencies to provide services to
entities operating in the zone.
Resolution 14/2014 del Ministry of Labor and Social
Security
April 2014 Increased autonomy provided to
Cuban companies in making investment and
other decisions.
Resolución 203/2014 Ministerio de Finanzas y Precios
April 2014 Flexibility given to Cuban state
companies to determine salary levels including
incentive payments for staff.
Resolución 17/2014 del Ministerio del Trabajo y Seguridad
Social
July 2014 The Council of Ministers approved
new, higher salaries for sportspeople, trainers
and other sports professionals.
Resolución 22/14, 23/14 y 24/14 del INDER
July 2014 Two Cuban baseball players officially
hired by the Japanese Major League. Salaries in
millions of US dollars.
July 2014 Cuban State entities begin the sale
of cars to the general public.
Decreto No. 320 del Consejo de Ministros
March 2014 Rules relaxed on cellphone data
services for Cuban nationals.
Resolución 8 de 2014 del Ministerio de Comunicaciones
* The co-efficient is the ratio of Cuban Pesos paid to the
employee by the State Employment agency for every Cuban
Convertible Peso charged paid by the company to the
employmemt agency.
November 2014 Employment incentives
announced for Cuban employees of joint
ventures and other foreign investment vehicles.
The co-efficient is changed from one Cuban
Pesos for each Convertible Peso charged to
two Cuban Pesos for each Convertible Peso
charged.
Resolution 42/2014 del Ministerio del Trabajo y Seguridad
Social
17 December 2014 Cuba and US announced
the reestablishment of diplomatic relations. The
U.S. relaxes certain sanctions and makes travel
to Cuba easier.
June 2015 Reported that the largest Cuban
state companies will be overseen by boards of
directors made up by representatives of social
organizations, experts and academics appointed
by the Council of Ministers.
June 2015 Banco Popular de Ahorro offers
online banking services to the non-public sector.
July 2015 ETECSA opens up 35 Wi-Fi hot spots
throughout the country at a rate of CUC 2 per
hour.
2015 Plan announced for over 10,000 coops to
be established from 2015-2017 by converting
state enterprises (including all existing state
restaurants) into democratically managed
cooperatives.

Cuba has an extensive network of over 10
airports able to receive international aircraft.
Havana’s José Martí international airport will be
subject to a major renovation over the next few
years upgrading its capacity and improving its
facilities. In the longer term it offers an ideal hub
for the Americas combining transatlantic traffic
with intra-American flights. Several European
airlines already use Havana’s airport as a cargo
hub for Latin America.
Cuba’s road network connects all areas of the
country. Several investment initiatives are
ongoing to ensure that these are adequately
maintained.
The newly built railway spur linking Mariel to the
national rail network now enables individuals to
commute easily by train from Havana to Mariel as
well as providing an efficient alternative to road
transportation for containers.
Significant investments have been made over
recent years to upgrade the water network within
the country; Cuba has many natural aquifers
including five within the ZED Mariel area.
ETECSA, the national telecoms monopoly, has
embarked on a major five-year investment
program that will enable the company to meet
regional norms in terms of internet and mobile
connectivity. Measures have been taken in recent
years to reduce the cost of communications to
and from Cuba.
Unión Eléctrica (UNE), the national utility
provider, has an ambitious plan to provide 25%
of the energy needs of Cuba from renewable
energy sources by 2030. This plan calls for the
development of 755 MW of biomass plant, 700
MW of solar photovoltaic parks and 633 MW of
wind projects.
Existing thermo-electric power stations
mostly burn Cuban domestic crude oil that is
extracted from (mostly) on-shore or shallow
water platforms.
A major new project was recently announced
to invest approximately Euro 1.45 billion to
build four new thermoelectric 200 MW units at
Mariel’s Máximo Gómez (1) and Santa Cruz
del Norte’s Este Habana (3). This work will be
done by Russian Inter Rao as part of an overall
co-operation agreement signed between the
two countries in October 2015.
The 30-mile Pedraplén causeway cuts through Buena
Vista Bay, linking mainland Cuba to the Cayería del
Norte cays in Villa Clara Province.
Photo by Marius Jovaiša, from this book Unseen Cuba
(unseencuba.com)
08. Infrastructure

Cuba has universal health care free at the
point of delivery that has produced First World
health indicators. Cubans have a life expectancy
of 79.3 years, infant mortality rates of 4 per
1,000 live births and 67 physicians per 10,000
population.
The Escuela Latinoamericana de Medicina
(ELAM) was established in 1999 as part of
Cuba’s humanitarian and development aid
strategy. ELAM is one of the largest medical
schools in the world by enrollment with
approximately 19,550 students from 110
countries enrolled in 2013. All those enrolled
are international students from outside Cuba
and mainly come from Latin America and the
Caribbean as well as Africa, Asia and the US
Cuba has Universal education with a literacy
rate of 99.8%. The mean years of schooling is
10.2, with 62% entering tertiary education.
The pupil-teacher ratio is 9 pupils per teacher.
Each year over 10,000 Cubans graduate with
information technology degrees from one of
Cuba’s technical schools.
A high percentage of the workforce (71%) has
advanced educational qualifications. There
is also a high participation of women in the
workforce.
Within the Havana catchment area are the
University of Havana, Instituto Superior
Politécnico José Antonio Echevarría (CUJAE),
Instituto Superior de Tecnologías y Ciencias
Aplicadas, Instituto Superior de Ciencias
Médicas de La Habana, Universidad Agraria
de La Habana, Universidad de las Ciencias
Informáticas (UCI), Universidad de Artemisa
and Escuela Latinoamericana de Medicina.
The Biotechnology cluster (pole) in Western
Havana contains several world-renowned
research institutions that have developed many
groundbreaking medical treatments.
In June 2015, WHO’s director general Margaret
Chan highlighted Cuba’s success in becoming
the first country to eliminate mother-to-baby
HIV transmission.
There are low levels of crime, violence and
drug use in Cuba, which provides for a safe and
secure environment.
Cuba is the most progressive country in the
region on issues related to gender equality and
same sex marriage.
Cuban international sports teams have an
incredible track record at the Olympics and
other international competitions. In sports as
diverse as athletics, baseball, boxing, fencing,
judo, shooting, volleyball and boxing, Cuban
talent and coaching is widely respected.
Cuba has encouraged mass participation
domestically in sport. The Annual Terry Fox run
has a countrywide participation of approx. 2
million people (20% of the population).
Cubans have very strong family relationships
and ties.
Cuba has a strong sense of national identity and
limited ethnic, religious or racial cleavages.
09. Social Indicators

Kids walking home
from school in Baracoa,
Guantánamo province
Even in remote rural areas,
you will see Cuban kids
with their school uniforms
kept immaculately and
worn with pride
The World Bank and UNDP
consistently classify Cuba
alongside First World countries
in educational and health
benchmarking reports.
24

In December 2014, New Seven Wonders
Foundation chose Havana as one of the
world’s seven most remarkable cities.
CNN includes Havana within its top 10
healthiest cities worldwide.
“Havana is the safest
city in Latin America
and the Caribbean.”
Guía de El Viajero,
published by El País.
(Population 2,141,913)10. La Habana
View of the entrance to Havana harbour. Old Havana is in the
foreground, right and “complejo Morro Cabaña”, foreground left.
Photo by Marius Jovaiša, from this book Unseen Cuba (unseencuba.com)

Cuba attracted 3 million visitors in 2014
generating US$ 2.55 billion in revenues. Looser
OFAC restrictions have led to strong growth from
US visitors, which increased by an estimated
35% in the first half of 2015. Other markets
have also seen strong growth averaging 17.2%
(up to August 31, 2015). If this rate of increase
continues, Cuba will welcome 3.5 million visitors
for the complete year.
This increase has been helped by global factors
including turbulence in North Africa and a
strengthening global economy but really driven
by Cuba’s increasing appeal both to American
and non-American visitors alike.
Cuba is in the news and in fashion. Whether it’s a
new visit to Cuba by this President or that Prime
Minister it seems that the whole world is coming
to town. Anthony Boudain and Conan O’Brian
recently did shows from Havana. Beyonce and
Jay Z, Mick Jagger, Paris Hilton, Naomi Campbell
and Katy Perry have all visited in 2015. The
2015 Havana Biennial in May received global
coverage and was the largest ever. The Rolling
Stones are planning to perform in March 2016,
in Havana’s Latinoamericano Stadium.
Services and facilities offered to tourists are
continuing to improve as a virtuous circle
of booming demand is driving investment in
the state and non-state sector which in turn
increases demand.
In the 1950s, 85% of tourists to Cuba came
from the US. Various studies have estimated
that, once Americans can visit Cuba without
restriction, the island could expect to see
demand for more than ten million tourists
annually.
26
11. Tourism

Studies which have looked at Cuba’s potential
to receive this many tourists emphasize that,
while obviously massive investment will be
needed, Cuba does have the potential in terms
of geographic size (110,860km2
/43.6% of the
Caribbean), miles of coastline (5,746km) and
population (11.2 million/31% of the Caribbean)
to meet this demand.
Over the last 25 years, the island grew from
18,565 hotel rooms in 1990 to 62,700 hotel
rooms (68% of which are 4 and 5 stars) at the
beginning of 2015. By 2020, the total number
of hotel rooms should be 85,000 according to
Tourism Minister Manuel Marrero.
MINTUR estimates that Cuba has a total
potential capacity of 273,500 hotel rooms,
which is more than four times the current
number.
Currently, more than 60 tourism projects are
being developed with companies from Canada,
China, Germany, Spain, Italy and others. These
projects are aimed not just at building new
hotels and resorts, but also the development
of amusement and water parks, together with
logistical support and the expansion of water
sports.
The 2014 Investment Opportunity Brochure
identified 16 hotels (totaling 5,412 rooms)
open for foreign investment through joint
ventures as well as a further 35 hotels (16
current and 19 new properties) available for
management by international hotel groups.
At FITCUBA in May 2015, Grupo Islazul S.A.,
which operates 106 one- to four-star hotels
with close to 10,000 rooms, announced it is
seeking marketing and hotel administration
partners.
The Northern Keys are virgin areas which have been
developed into some of Cuba’s much luxurious tourism
resorts. This beach in Cayo Coco is simply spectacular.
“If I get lost look for me
in Cuba”
Federico García Lorca .

The planned tourist
development will require
construction materials and
accessories as well as supplies
to run their post-opening
operations.
MeliÁ manages 28 hotels in Cuba, with a total of
12,244 rooms. In 2013, it opened the 731-room,
1,000-berth Marina Varadero. Future plans include
the 900-room Meliá Internacional in Varadero
(2015) and the Paradisus Cayo Santa María
(2015).
Blue Diamond, the subsidiary of Canadian
Sunwing, has quickly established a major presence
with 14 hotels and 8,771 rooms in Cuba.
Iberostar, the Spanish group currently manages 9
properties in Cuba, totaling 3,843 rooms. The family-
run group has various development plans on the island.
Accor currently manages 2 hotels in Cuba. It
has agreed to manage the Pullman Cayo Coco
(opens November 2015) and Sofitel So La
Habana (under construction).
Warwick International Hotels and
Resorts will enter the Cuban market in 2015,
administrating the Warwick Cayo Santa Maria
and Naviti Varadero.
NH hotels opened the newly renovated NH
Capri in 2014.
Other Spanish groups operating in Cuba include
H10, Hoteles C, Be Live (part of Globalia),
Husa, Hotusa and ROC. The Jamacian groups
Superclubs and Sandals both manage
properties.
Kempinski is set to manage the 246-room
Manzana de Gómez, currently under construction
in Old Havana.
At least 12 major golf courses, marina and real estate development
projects are under discussion. Five have reached an advanced stage.
These are Carbonera (Varadero), Bellomonte (Playas del Este),
Camarioca (Matanzas), El Salado (Artemisa) and Punta Colorado
(Pinar del Rio). These projects have projected capital costs of US$
300-600 million each.
28

Rank 2009 2010 2011 2012 2013 2014 *2015
%change
2015/14
% of total
2015
Canada 1 914,884 945,248 1,002,318 1,071,696 1,105,729 1,175,077 1,340,763 14.1% 38.1%
United States 6 52,455 63,046 73,566 98,050 92,348 91,254 123,193 35.0% 4.1%
Venezuela 7 28,657 30,965 34,096 36,373 45,943 78,839 110,769 40.5% 3.1%
Mexico 8 61,487 66,650 76,326 78,289 84,704 82,820 102,448 23.7% 2.9%
Argentina 10 48,5436 58,612 75,968 94,691 90,084 68,849 82,688 20.1% 2.3%
Chile 11 18,205 17,521 23,527 27,551 35,952 38,500 50,743 31.8% 1.4%
Colombia 14 21,287 20,624 24,873 33,343 34,828 37,403 33,925 -9.3% 1.0%
Peru 17 14,708 16,049 15,188 19,737 18,528 19,536 24,811 27.0% 0.7%
Brazil 18 13,498 14,367 14,507 16,174 17,573 19.513 24.216 24.1% 0.7%
Panama 24 9,677 9,656 10,347 12,298 12,765 13,277 15,561 17.2% 0.4%
Uruguay 27 4,585 5,128 7,009 7,910 8,294 10,258 12,022 17.2% 0.3%
Other n-a 35,696 37,574 39,552 41,634 43,825 45,446 53,263 17.2% 1.5%
Cuban Émigré 312,318 378,560 401,723 389,254 373,427 361,228 408,678 13.1% 11.6%
TOTAL AMERICAS 1,536,000 1,664,000 1,799,000 1,927,000 1,964,000 2,042,000 2,383,078 16.7% 67.7%
Germany 2 93,437 93,136 95,124 108,712 115,984 139,138 170,444 22.5% 4.8%
UK 3 172,318 174,343 175,822 153,737 149,515 123,910 159,100 28.4% 4.5%
France 4 83,478 80,470 94,370 101,522 96,940 103,475 134,518 30.0% 3.8%
Italy 5 118,347 112,298 110,432 103,290 95,542 112,076 129,336 15,4% 3.7%
Spain 9 129,224 104,948 101,631 81,354 73,056 77,099 101,848 32.1% 2.9%
Russia 12 37,391 56,245 78,472 86,944 70,401 69,237 42,788 -38.2% 1.2%
Holland 13 33,123 31,787 32,4023 35,284 32,165 33,491 40,725 21.6% 1.2%
Switzerland 16 15,339 16,095 18,143 20,254 20,992 23,880 31,545 32.1% 0.9%
Austria 19 12,004 11,486 11,803 13,250 15,201 16,923 19,834 17.2% 0.6%
Poland 20 13,501 12,793 13,972 13,035 13,395 16,569 19,402 17.1% 0.6%
Belgium 21 15,722 13,049 14,266 14,414 14,098 15,895 18,613 17.1% 0.5%
Other 114,116 103,350 105,563 107,563 113.011 135,307 158,580 17.2% 4.5%
TOTAL EUROPE 838,000 810,000 852,000 839,000 810,000 867,000 1,026,733 18.4% 29.2%
ASIA & PACIFIC 45,000 47,000 54,000 59,000 62,000 76,000 88,310 16.2% 2.5%
MIDDLE EAST+AFRICA 11,000 11,000 11,000 13,000 15,000 18,000 21,096 17.2% 0.6%
TOTAL 2,429,809 2,531,745 2,716,317 2,838,607 2,852,572 3,002,745 3,519,217 17.2% 100.0%
B
C
* Annualized estimate based on results to
August 31, 2015
(A) 2013 & 2014 figures based on
work by Faculty of Tourism at Havana
University. Other years’ figures estimates
based on balancing numbers required for
global figures.
(B) Projected based on reported
increase of 35% in first half of 2015.
(C) General increase of 17.2% assumed.
Visitor arrivals to Cuba, 2009 to 2015
C
C
A
C
C
C

Jardines de la Reina
National Park
Coral reefs, sand islands, wildlife,
original vegetation.
Desembarco del Granma
National Park
Marine terraces, forests.
Turquino
National Park
Rainforest, endemics.
Baconao-Gran Piedra
Endemics, forests,
landscapes diversity.
Tunas de
Zaza
Banao
Ecological reserve
Loma de Cunagua
Wildlife sanctuary
Lanzanillo-Cayo Fragoso
Wildlife sanctuary
Cayo Cruz
Wildlife sanctuary
Río Máximo
Wildlife sanctuary
Cayo Ana María
Wildlife sanctuary
Nuevitas
Wildlife sanctuary
and mangrove belt
Cayo Francés
Natural reserve Cayo Coco
Natural reserve
Caguanes National Park
Forests, caves,
aboriginal paintings
Maternillos
Ecological reserve
Bahía Nuevas
Ecological reserve
Caletones
Endemics
Delta del Cauto
Wildlife sanctuary,
wetlands.
Cerro Galano
Natural reserve
El Guaso
Rainforests
La Mensura
Sierra Cristal
Established in 1930
Maisí
Marine terraces,
xeromorphic forest
Southeastern coast
Natural reserves,
protected landscapes,
terraces, forest, wildlife.
Alejandro de Humboldt National Park
Mountain rainforests,
hundreds of endemics.
Sierra Maraguán
Wildlife sanctuary
Buena Esperanza
Protected landmark:
coral reef in muddy
waters.
Reserve (natural, ecological) Protected landscape
Area managed for conservation
Protected natural landmark
Wildlife sanctuary
National park
Cuba´s nature reserves and
protected areas, 2014
Map compiled by Caribbean Professional Services Ltd
from various public sources. It is indicative only.
Guanahacabibes Peninsula
Well preserved forests
Endemics.
Viñales National Park
Cultural and natural
landscapes, endemics.
Sierra del Rosario
Mountain rainforest.
Isle of Youth southern plain
Well preserved original
coastal forests and swamps.
Invasive exotic animals
(hogs, cows, deer, alligators)
have turned into pests.
Los Canarreos Archipielago
Coral reefs, sand islands,
original vegetation. Includes
Cantiles National Park and
several natural sanctuaries.
Ciénaga de Zapata National Park
The largest wetland in the
Caribbean (1.7 million acres).
Includes a special protection
zone at Playa Girón shoreline,
Las Salinas wildlife sanctuary
and parts of the ocean shelf.
Cabo de
San Antonio Cabo Corrientes
Playas del Este
Cabo Cantiles
Playa GirónLas Salinas
CIÉNAGA DE ZAPATA
AgabamaCayo Largo
Cayos de San Felipe
Endemic
Las Cayamas
Migratory birds
Los Pretiles
Endemic
Mil Cumbres
High diversity
endemic
Galindo hills
Endemic ﬂora
Cayo Mono-Galindo
Ecological reserve
Bibanasí hills
Wildlife sanctuary
Jumagua
Ecological reserve
Cubanacán
Ecological reserve
Pico San Juan
Ecological reserve
Las Picúas-Cayo Cristo
Wildlife sanctuary
Cayo Leguas
Migratory birds
Biosphere
reserve
Cayos Los Indios

ZED Mariel encompasses an area of 465.4 km²,
partially covering six municipalities within the
province of Artemisa. This area encompasses
many sites of natural beauty as well as an
attractive topography.
Land is available for renewable energy projects
as well as for hotel, resort and golf course
development outside of Sector A (but still
within the area covered by the ZED Mariel
legislative framework).
Playa El Salado and Playa Baracoa offer
attractive beaches and over 15 dive sites
offshore. Only 23km West from Havana,
El Salado has great potential for tourism
development and currently is the location for
Cuba’s best go-karting track.
San Antonio de los Baños hosts the world-
renowned Escuela Internacional de Cine y
TV founded in 1986 with the help of the
late Gabriel García Márquez. The respected
Latin American School of Medicine (ELAM)
graduates thousands of medical students from
all over the world each year.
Artemisa is known as Villa Roja (Red Town) or
the Jardín de Cuba (Garden of Cuba) for the
famous fertility of its soil, which still yields a
rich annual harvest of sugarcane, tobacco and
bananas.
The immediate
catchment area for
workers in ZED Mariel
includes:
Mariel (Pop: 14,000)
Artemisa (Pop: 82,917)
Guanajay (Pop: 28,750)
San Antonio de los Baños (Pop: 49,942).
12. Artemisa Ernest Hemingway and Cuban poet Nicolás
Guillén were attracted to spend time in the
town of Artemisa that boomed on coffee
and sugar in the 19th century. It maintains a
country charm today.
The University of Artemisa opened in October
2012 and now has 3,000 undergraduate and
graduate students in 18 schools.
Just outside of the boundaries of ZED Mariel to
the West lies the UNESCO Biosphere Reserve
Sierra del Rosario, which includes Las Terrazas.
This is one of Cuba’s premier destinations for
eco-tourism. Stunningly beautiful and often
twinned with the lovely Soroa, this is a place to
appreciate nature and escape from city life.
Countryside near Quiebra Hacha (Artemisa)
Artemisa Province is one of the
two new provinces created from
the former La Habana Province,
whose creation was approved
by the Cuban National Assembly
on August 1, 2010, the other
being Mayabeque Province. The
new provinces were enforced on
January 1, 2011
31

Terminal de Contenedores de Mariel, S.A. (TC
Mariel) is a world-class container terminal
located 45km from Havana with a current
capacity of 824,000 TEU. This is one of the
best natural harbors in the region, which has
ample greenfield development opportunities
going forward.
TC Mariel opened in January 2014 and is
operated by Singapore-based PSA. With the
capacity to receive Post-Panamax shipping,
this port is being developed into an important
regional logistics hub.
Following the full lifting of the US blockade
(specifically the Torricelli Act), TC Mariel
is poised to become a major transshipment
hub given its almost perfect location within
the Caribbean triangle where multiple major
commerce routes intersect. For traffic
transiting the Panama Canal from Asia to the
East Coast of North America, TC Mariel has
a low deviation and short distance to final
location.
With a population of 11.2 million, Cuba is the
largest country in the Caribbean. Given a large
and growing tourism market, this implies a large
domestic market relative to other countries in
the region that gives Cuba an advantage over
other smaller islands within the Caribbean.
Mariel is a deep-water port, enabling the
operation of a 702-meter jetty covering an area
of 27.7 hectares. It has in operation four ship
to shore cranes (STS)and twelve patio cranes.
The current capacity is 824,000 twenty-foot
equivalent units (TEUs) annually.
The entrance channel has a depth enabling the
operation of Post-Panamax vessels, which are
capable of carrying as many as 12,500 TEUs
(compared to the current maximum of 3,500
TEUs).
Contact details:
Terminal de Contenedores de Mariel, S.A.
Carretera a Quiebra Hacha, Km 8 ½. Municipio
Mariel, Artemisa, Cuba
Tel: (5347) 397100
contacto@tcmariel.cu
http://www.tcmariel.cu
An administrative center is already in place.
Warehousing and distribution centers are being
developed to meet the current ongoing needs
generated from the container traffic that is
entering the port.
A future expansion to meet transshipment
demand in a post-US blockade scenario could
see the jetty increased to 2,400 meters over
an area of 128 hectares, which would increase
the potential annual capacity to over 3 million
TEUs.
13. TC Mariel: A Regional Logistics Hub

MEXICO
U.S.A.
HONDURAS
COSTA RICA
PANAMA
VENEZUELA
COLOMBIA
JAMAICA
DOMINICAN REPUBLIC
PUERTO RICO
EL SALVADOR
NICARAGUA
Houston
Altamira
VERACRUZ
Puerto Barrios
Puerto Brito
Puerto Aguila
New Orleans
Jacksonville
Puerto Cortés
Puerto
Cabello
La Guaira
PORT-OF-SPAIN
San Juan
KingstonSanto Tomás
Miami
*TC MARIEL
CAUCEDO
GUATEMALA
1.95 0.45
1.42
0.500.761.98
3.36
5.20
10.95
1.70
2.80
4.80
0.60
1.20
2.202.62
4.42
1.05
0.570.38
0.60
0.49
0.90
Port Everglades
0.93
0.92
CARTAGENA
1.05
1.50
3.50
1.15
1.25
2.45
0.87
1.00
3.00
0.30
0.83
2.00
1.50
1.50
2.50
BAHAMAS
FREEPORT
COLON CLUSTER
LIMON MOIN
Nicaraguan
Canal
Incoming trafﬁc, 2013
Current capacity, 2013
Capacity after expansion
Million TEUs
KEY
Container traffic throughput
in the region, 2013 (MILLION TEU)
* TC Mariel is estimated to have traffic of
approx. 310,000 TEU in 2015, its first full
year of operation. Its current capacity is
824,000 TEU.
33

MEXICO
U.S.A.
COSTA RICA
PANAMA
VENEZUELA
COLOMBIA
JAMAICA
DOMINICAN REPUBLIC
PUERTO RICO
BAHAMAS
EL SALVADOR
NICARAGUA
Houston
Altamira
Veracruz
Puerto Barrios
New
Orleans
Jacksonville
Puerto Cortés
Puerto Limón Puerto
Cabello
La Guaira
Port-of-Spain
San Juan
Río Haina
KingstonSanto Tomás
Miami
Cartagena
Caucedo
GUATEMALA
Port Everglades
Freeport FTZ
Colón
Balboa
HONDURAS
ASIATOECNA+CENTRALAMERICA&CARIBBEAN
TC MARIEL
EUROPE TO US GULF COAST + CENTRAL AMERICA & CARIBBEAN
Planned
Nicaraguan
Canal
ECSA TO ECNA + US GULF COAST + CENTRAL AMERICA & CARIBBEAN
cuba, hub to the americas
(future opportunities)
34

Mariel Special Development Zone (ZED Mariel)
is Cuba’s first Special Development Zone,
created in November 2013 by Decree-Law 313.
It covers a total area of 465.4 km², located in
the Northern part of Artemisa province, 45 km
West of Havana.
ZED Mariel is not a Free Trade Zone; it is an
area of the national territory regulated by
special regimes and policies, designed to attract
investment in the production of goods and
services with added value, using knowledge and
innovation, clean technologies and generating
industrial concentration to replace imports,
boost exports, and create new sources of
employment. This is being done in co-ordination
with the rest of the domestic economy.
ZED Mariel is open to Cuban and foreign
companies. Its incentives are universal, more
attractive than those provided by Law 118 and
apply to all companies based in the Zone.
Products and services generated in ZED Mariel
are Cuban products, which can be traded with
other Cuban companies outside Mariel or
exported without quotas.
Exports from Cuba are customs tariff exempted.
ZED Mariel has a fast approval process, ranging
between 35 and 65 days, with only two levels
of decision: the General Director of the Office
of ZED Mariel and the Council of Ministers for
those cases explicitly listed in the law.
View of the sector A8 (Food and agricultural processing
zone). In the background trucks leave TC Mariel.
Overview
14. ZED MARIEL

Cabañas
SIERRA DEL
ROSARIO
Playa
Baracoa
La Boca
Playa
El Salado
Canto de Santa Fe
HAVANA
Caimito
Bauta
Las Terrazas
CandelariaSan Cristobal
SAN ANTONIO
DE LOS BAÑOS
ARTEMISA
Alquízar Quivicán
Bejucal
ARTEMISA
MAYABEQUE
San Antonio
de los Baños Airport
Escuela Internacional
de Cine y TV
Guanajay
AU
TOPISTA HABANA
PINAR DEL RIO
CARRETERA
CENTRAL
Cayajabos
JOSÉ MARTÍ
INTERNATIONAL
AIRPORT
Guira de Melena
Punta
Brava
Bahía de Cabañas
Embalse
Pinillo
Embalse
El Mosquito
Presa
La Coronela
CARRETERA PANAMERICANA
Baracoa
Airport
Mariel La Molina
Embalse
San Francisco
Total area available for development
as part of ZED Mariel
45 Km
TC MARIEL
ZONES A1-A11
New/renovated railway
New 4-lane Mariel connecting highway

The two-track railway started operations in July 2014,
transporting cargo and passengers to and from the
Zone. In total, 58km of railway double track has been
laid and a further 30.5km of single track. Four railway
stations have also been built.

Details the general tax rules for all economic
activities in Cuba, including for Cuban/non-
Cuban nationals and Cuban/international
companies.
The previous tax law, Law 73 continues to apply
to international companies that have invested in
Cuba to the extent that Decree-Law 313/2013
or Law 118/2014 does not contradict it.
The National Assembly (Parliament) adopted
Law 113 of 2012 on the Taxation System dated
July 23, 2012. The following complementary
regulations were also adopted
• Council of Ministers Decree No 308/2012
on General Rules and Tax Procedures
Taxation Act Law
113/2012
Establishes a special regime for investment in
the area of 465.4 km² within the province of
Artemisa, which pertains to ZED Mariel.
The Council of State adopted Law 313 of 2013,
dated September 23, 2013 (the “Special
Development of Mariel”).
In addition, the following complementary
regulations were adopted:
• Council of Ministers Decree No 316/2013
• Banco Central de Cuba Resolution No
82/2013
• General Customs of the Republic of Cuba
Resolution No 278/2013
• Ministry of Science, Technology and the
Environment Resolution No. 150/2013
• Ministry of Finances and Prices Resolution
No. 384/2013 and 149/2014
• Ministry of the Interior Resolution No.
14/2013
• Ministry of Labor and Social Security
Resolution No. 49/2013
This sets out the principal legal structures
for the implementation of foreign investment
projects in Cuba, including investment
protection and the general rules relevant to
foreign investors. Supersedes and repeals
previous Law 77/1995.
The National Assembly (Parliament) adopted
Law 118 of 2014 on Foreign Investment dated
March 29, 2014. The following complementary
regulations were also adopted:
• Council of Ministers Decree 325/2014
(“Decree 325”) dealing with procedural
rules
• Central Bank of Cuba Resolutions 46/2014
and 47/2014
• Ministry of Foreign Trade and Foreign
Investment Resolutions 128/214 and
129/2014
• Ministry of Labor and Social Security
Resolution 16/2014 dealing with labor
matters
Special Development Zone
of Mariel Decree Law
313/2013
Cuban Foreign
Investment
Law 118/2014
15. Legal Framework

16. Fiscal Rules
*Companies located in ZED Mariel must pay 0.5% of the gross income earned in each quarter to the ZED Mariel Development Fund.
Applicable tax regime Taxation Act 113/2012 Foreign Investment Law 118/2014 ZED Mariel Decree Law 313 & 316/2013
Type of Foreign Investment Company 100% foreign owned companies & branches Joint Ventures / IEA ALL companies in ZED Mariel
Income tax
(on net profits)
35%. May be increased up to 50% when
involving natural resources (oil/minerals).
Exemptions may be negotiated on a case-
by-case basis.
Exempt for first 8 years as of date of
incorporation, then taxable at 15%. May
be increased by 50%(up to 22.5%) when
involving natural resource. Profits reinvested
are tax exempted.
Exempt for first 10 years then taxable
at 12%. Exemption may be extended.
Profits reinvested are tax exempted.
Social security
(employer)
Law 117 on the State Budget for 2014 establishes a rate of 14% payable by the employer.
Payroll tax 12% in 2015, will be gradually reduced to
5% in 2017.
None None
Personal Income Tax
(Non-Cuban residents)
15% of all income obtained or generated as a result of economic activity in Cuba. Dividends are exempt from taxation. Payable within
first 20 calendar days following settlement period.
Services tax
(Gross receipts tax)
10% of gross sales value
Gradual application.
Exemption during first year of operations.
Payable at 50% of the rate (10%) established
by law.
Exemption during first year of
operations. 1% flat rate established.
Sales tax 2% gross sales value for wholesale and 10%
for retail sales. Gradual application.
Exemption during first year of operations.
Payable at 50% of the rate (2%) established
by law on wholesales.
Exemption during first year of
operations. 1% flat rate established.
Goods tax Certain goods intended for use or consumption such as alcoholic beverages, cigarettes, luxury goods, etc. Taxable goods and rates
established in the Law on the State Budget/Resolution of the Ministry of Finance & Prices (MFP).
Territorial contribution 1% gross income. Raw materials for
industrial production & goods for export
exempt.
Exempted during investment recovery period. * None
Environmental protection taxes
(beaches, fauna etc.)
Defined in The Law on the State Budget
annually.
50% reduction during investment recovery
period.
50% reduction during investment
recovery period.
Customs duties Exemptions may be negotiated on a case-
by-case basis on capital investment.
Not payable during development period. Not payable on capital equipment
imported for investment.
Customs duties are payable in accordance with the established tariffs for raw materials. Existing scheme in place to exempt goods
subsequently re-exported.
Land Transportation & Document
Tax
Rate is dependent upon type of vehicle/document– amounts are relatively low.
Advertisement Tax Applies to the public display of commercial announcements and advertising signs – rates are dependent upon dimensions of sign and
location.

ZED Mariel is open to Cuban and foreign
companies, as well as cooperatives and
individuals.
Companies may act as a concessionaire or as a
user of the zone.
Concessionaires need to obtain approval from
the Council of Ministers, which will grant an
administrative concession for the temporary
management of a public service, execution of
public works or exploitation of government
property, for up to 50 years, which may be
extended.
The Mariel Special Development Zone Office is
an entity attached to the Council of Ministers
and commissioned to administer the Zone,
control its activities, prepare and conduct
the Development and Business Program,
process all applications, licences, permits
and authorizations carried out or needed by
concessionaires and users of the Zone or by
those interested in becoming established in it,
by means of an efficient one-stop-shop system.
Initial contact made by the investor with the Mariel
Special Development Zone Office
A preliminary assessment is made of the project to clarify whether it fits within the overall eligibility
criteria for ZED Mariel and a written reply is conveyed to the investor.
The investor is required to prepare a file, which
includes legal and financial documents, as well as
a feasibility study in accordance with the relevant
Cuban norms for ZED Mariel.
Once the Mariel Special Development Zone Office has received the file, a response will be given on the
project’s approval within 30-60 days, depending on the level of approval.
Investors have to contract an authorized entity to
perform a valuation of the land usage rights
Ministry of Finance & Prices (MFP) certifies the valuation of the land usage rights
The feasibility study may be performed internally by the company or contracted out to a Cuban or international
consulting firm. In either case, it must conform to the template laid out by ZED Mariel, which may be downloaded at
www.zedmariel.com
17. Administrative Procedures
Legal status of users/
concessionaires
Administration of
ZED Mariel
Cuba has signed Agreements for the Reciprocal
Promotion and Protection of Investments
(ARPPI) with over 63 countries (page 16).
Cuba is a member of the International Court of
Arbitration with headquarters in Paris.
The Foreign Investment Law 118/2014 provides
for protection against expropriation and ensures
the free transfer abroad of dividends, profits or
other income associated with the realization of
the Foreign Direct Investment (FDI) project.
Foreign investments in ZED Mariel enjoy the
same level of protection as foreign investments
elsewhere in Cuba as regulated by Law 118/2004.
Investor
Guarantees
The Mariel Special Development Zone Office is able to provide all of the necessary approvals for a new project including all licensing, permits and
authorizations from other Cuban State entities. From an investor perspective, there is only one point of contact and the process functions as a One-Stop-Shop.
Application & approval process

Agencies
There are eleven employment agencies that
provide services to companies located within
ZED Mariel. These agencies may charge a
maximum of 20% commission for the provision
of the following services:
• Recruitment and selection of appropriately
qualified personnel
• Payroll processing, including payment
of social security and income tax
contributions on behalf of employee and
employer
• Resolution of labor-related disputes
• Relevant proceedings in relation to
occupational accidents, etc.
• Administrative processing of residency and
work permits for expatriates
This commission is applied
to the salaries of the Cubans
employed.
Workers for one of the state-
employment agencies receive
their salaries with a co-efficient
of ten. This implies that they
will receive ten times the
amount in Cuban pesos that the
employment agency charges
the company for salaries in
US dollars. This provides a
significant level of incentive for
Cuban staff.
18. Employment

Employment Agency Main professions available Contact
Almacenes Universales S.A. Professional, technician and skilled worker in the field of logistics (warehousing, transportation
and port activities)
Desamparados No. 166 e/ Habana y Compostela,
La Habana Vieja, La Habana
Tel: 7-861-3402 ext. 131-178
mail: dtor.ae@cnph.ausa.cu
AGEMPORT
[Ministry of Transport]
Mechanic, driver, heavy/light equipment operator, industrial maintenance technician/worker,
technologist, painter, sheet-metal worker, assistant.
Desamparados No. 201 esquina a Compostela, La
Habana Vieja, La Habana
Tel: 7-862-1940, 7-862-1909, 7-862-1935
mail: ee.transporte@agemport.transnet.cu
BIOCUBAFARMA
[Biotechnology and Pharmaceutical Industry]
Chemical & industrial engineer, pharmacy, chemistry, biology and microbiology professionals,
technicians in biological processes, industrial chemistry and industrial pharmacy technicians.
100 y Boyeros, Edificio B, Boyeros, La Habana
Tel: 7-265-3749
mail: rhmariel@oc.biocubafarma.cu
CUBATABACO
[Ministry of Agriculture]
Skilled agricultural worker, and technician and engineer in any field. Calle Nueva No. 72, e/ Universidad y Pedroso, Cerro.
Tel: 7-879-0250 to 7-879-0256
mail: cubatabaco@cubatabaco.cu
CUBARON
[Food Industry]
Chemical engineer and professional; microbiology, biology and food science professional; food
technology technicians.
Calle 22 No. 310 y 312 e/ 3ra y 5ta, Miramar, Playa
Tel: 7-204-2427, 7-204-6231, 7-204-2566
mail: empleadoramariel@cubaron.co.cu
DELTA
[Ministry of Communications]
IT engineer, telecommunications engineer, IT professional, cybernetics and mathematics
professional, IT technician
Neptuno, No. 108 e/ Prado y Consulado. Centro Habana
Tel: 7-863-6495, 7-862-9300 ext. 105 y 230
mail: empleadora@delta.co.cu
MICONS
[Ministry of Construction]
All occupations in the field of construction (construction, assembly, design and construction
materials) in addition to other occupations linked to other fields
Factor No. 5, e/ Masó y Ayestarán, Cerro, La Habana
Tel: 7-879-9567 or 7-879-9614
mail: empleadora@netcons.com.cu
PETROEMPLEO
[Oil Industry]
Assistant in all oil-related activities, technician in oil refining processes, oil well supervisor,
oil treatment professional, technician in drilling fluids, drilling experts, oil extraction worker,
drilling logistics expert, turbine repairman
Massip No. 14 206 e/ San Francisco y Vía Blanca,
Guanabacoa, La Habana
Tel: 7-784-1154, 7-699-2749, 7-699-2743
mail: zedm-petroempleo@pech.cupet.cu
SIECSA
[Unión Eléctrica]
Electric, mechanic and automation engineer, as well as the entire technical and managerial staff
required operating and maintaining solar parks, wind farms and any other power generating
facility connected to the grid.
Calle N, Edificio ENE, 8vo piso, e/ 21 y 23, El Vedado, La
Habana
Tel: 7-839-7700 ext. 6204 or 6200, 7-831-8473
mail: empleadora.une@siecsa.cu
TECNOSIME
[Ministry of Industries]
Manager, technician and skilled worker in industrial processes Calle 36 A No. 712 e/ 7ma y 42 Miramar, Playa, La
Habana.
Tel: 7-202-1344 ext. 117 and 7-206-5644
mail: tecnosime@tecnosime.cu
EMPLEATUR
[Ministry of Tourism]
Duly trained personnel in all technical aspects, with working knowledge of the required
languages to work in hotel and restoration activities.
Calle D No. 520 e/ 21 y 23, El Vedado, Plaza de la
Revolución, La Habana (Margarita Rodríguez Infiesta)
Tel: 78333024 and 78364715
mail: empleatur@fintchab.fintur.tur.cu

A1
607 (ha)
Reserve Zone
A2
299.7(ha)
Western
Ecopark
A3
459.5 (ha)
High Technology
Industrial Area
A5
386.6 (ha)
Logistics Zone
A4
241.6 (ha)
Industry & oil
service logistics
A9
1040.0 (ha)
Agricultural
Development
Zone
A11
478.6 (ha)
Mangrove Area
A8
239.8 (ha)
Food and
Agriculture
Processing
Zone
A7
262.8 (ha)
Port Zone
Ensenada
de Laza
Ensenada
de Angosta
BAHÍA DE MARIEL
A10
313.8 (ha)
TECHNOPARK
A6
250.2 (ha)
Transporation
Activities Zone
MARIEL
The detailed Master Plan of Sector A,
currently in its second phase, was contracted
to French Bouygues Bâtiment International,
which is working with a futuristic vision in the
conception and design of its urbanization,
in compliance with the best international
practices, under the concept of “high
environmental quality” (HQE)
The Development Programme for Sector A will
have three phases:
1. Short-Term Development. In response to
the present needs for the establishment
of industrial, logistic and construction
activities.
2. Medium- and Long-Term Development.
Aimed at positioning Cuba in the
international standards of added value
activities.
3. Long-Term Development. A phase of
great flexibility that shall adapt to the
predominant strategic needs of the
development process.
19. Sector A Project Development
Sector A (an area covering 4,372 hectares closest to Mariel Port) has been subdivided into
eleven zones devoted to high-tech, industrial, logistic and agricultural activities. Commercial real
estate projects including for industrial and commercial properties may be developed in several of
the zones.
Over the past year major investments have been made in developing the necessary infrastructure
in the first areas to be developed, primarily Zones A3 (high-tech industry), A4 (industry and oil
service logistics) and A5 (logistics). TC Mariel forms part of the Port Zone (A7).

Access Motorway and roads linking Sector A
with the rest of the national territory. Work is
underway in the construction of the North Road
and other secondary roads.
Railway infrastructure. The two-track railway
started operations in July 2014, transporting
cargo and passengers to and from the Zone.
Stable supply of drinking water and electric
power.
Fiber optic info-communication system and a
redundant radio link.
Infrastructure & logistics
Plans are in place to develop options for the
supply of natural gas to the area.
The first Logistic Block, which started
operations in August 2015, has a storage
capacity of 10,000m² for dry cargo and
5,000m³ for refrigerated cargo. It also provides
modern cargo management and handling
services.
Construction is under way of the First Business
Centre. Other users of the zone will also
develop facilities to house offices, banks,
shopping centres, and warehouses, among
other various services.
Construction volumes executed to date:
• Railway: 58 km of double track – 30.5 km of
single track
• Roads: 14 km of 4-lane motorway - 16 km of
2-lane roads
• Bridges: 14
• Railway stations: 4
• Railway stops: 3
• Water supply pipelines: 25.3 km
• Sewerage pipelines: 15 km
• Rainwater collection network: 7.1 km
• Electric lines: 280 km
• Communication lines: 78 km
Contact details:
Servicios Logisticos Mariel S.A.
Calle 132, no 8910
Entre 89 y Final
Municipio Mariel
Tel: (047) 398-225
View of newly built warehousing and logistics
buildings in Zone A5. The administrative building of
ZED Mariel, currently under construction may be seen
in the background, (center left).

High tech industry (A3)
Biotechnology, pharmaceutical projects should
be negotiated with BioCubaFarma. Cuba has
world-class research and medical institutions.
Industry & oil service logistics (A4)
This area will be used to locate investors
developing production activities prior to
the Technopark (A10) being developed in a
subsequent phase.
Food production (A8 & A9)
The domestic market and booming hospitality
sector has significant unmet demand.
Real Estate & infrastructure
developments
Commercial real estate projects including for
industrial and commercial properties.
20.
Priority Sectors Projects should meet the
following general objectives:
• Generate exports/promote import
substitution;
• Use modern, environmentally-friendly
technology;
• Provide employment;
• Generate added value using knowledge
and innovation;
• Develop links with the wider Cuban
economy outside ZED Mariel.
Packaging & packing
Cuba has significant domestic requirements
including paper products, cans, bottles and
other areas.
Construction materials
Cuba has an enormous need for all types
of construction materials and hardware for
retail sales and to meet investment needs in
infrastructure projects and hotel development.
Renewable energy (Outside Sector A)
ZED Mariel is attractive for photovoltaic solar
projects.

Outside of Sector A
Manufacture of: Description of project Investment type Cuban Partner of: Investment Cost, US$
1 Photovoltaic Solar Farms Installation and operation of photovoltaic solar parks with capacities
between 5 and 15 MW. All the energy delivered to the grid will be
purchased by Unión Eléctrica through a PPA (Purchase Power
Agreement).
100% Foreign
Company
Unión Nacional Eléctrica (UNE)
Contact: Pedro Barbachan Bagés
pedrob@oc.une.cu
1.5–2 million by MW of
installed capacity
Renewable Energy
Twenty projects have been developed by the relevant Cuban companies for development within ZED Mariel with foreign participation. Foreign
investors are in no way limited to the selection of the projects detailed in the Cartera de proyectos. They may prefer to develop their own projects
in line with the guidelines and priorities outlined in the previous section.
Zone A10
1 Radial tires Manufacture of 1.2 million radial tires, 56% for light automobiles
and 44% for heavy transport. For the domestic market and export
(400,000 units).
Joint Venture Grupo Empresarial de la Industria
Química (GEIQ)
Contact: William Marrero Chi,
william@geiq.cu
223 million
2 Aluminum cans Intended to replace imports of aluminum cans for beverages (beer,
soft drinks, malt drinks, juice, etc.) at levels of over 600 million units
per year
Sideromecánica (GESIME)
Contact: Carmen Herrera Prieto,
cherrera@sime.cu
40 million
3 Air conditioning equipment Air conditioning equipment for central systems, commercial and
home air conditioning equipment and the production of parts, spare
parts and accessories and post-sale and warranty service.
Contact:Carmen Herrera Prieto,
cherrera@sime.cu
15 million
4 Light automobiles Assembly and manufacture of a minimum of 10,000 light
automobiles per year, for the domestic market and exportation
cherrera@sime.cu
To be negotiated
Industry Projects
21. 2015 Projects Portfolio

5 Valves for pressure bodies Valves for pressure bodies such as extinguishers, gas cylinders,
oxygen and acetylene tanks, etc., in order to replace imports.
cherrera@sime.cu
To be negotiated
6 Glass bottles for beverages Glass bottles for beverages (beer, foods, rum) for medicines and
food conserves, at over 210 million units yearly
Química (GEIQ)
william@geiq.cu
70 million
7 Glassware items Manufacture of various assortments of tableware, glassware, goblets,
water jars
Química (GEIQ)
william@geiq.cu
10 million
8 Medical items (expendable) Manufacture of medical items for medical tests. Approximately
87 million disposable syringes, 8 million needles, 6 million saline
solution and serum kits, and 800,000 blood injecting kits, amounting
to US$ 4.7 million, are sold annually in Cuba.
Joint Venture Company associated with
Industria Electrónica del Grupo
de la Electrónica, Ministerio de
Industrias.
Contact: Jorge Luis
Hernández Garnelo,
director@tecnolab.co.cu
5 million
9 Engineering and technological
projects company
Develop engineering, supplies and construction job management
projects, setting up and starting up industrial, agro-industrial,
wastewater treatment and renewable energies projects as well
as post-sale services for the domestic market and the export of
services.
cherrera@sime.cu
To be negotiated
Zone A8
1 Soy Processing (Refined Oil
Factory)
Project to mill 500,000 tons of soy beans per year to obtain
85,000 tons of refined oil and 375,000 tons of soy flour for animal
consumption.
Joint Venture Corporación Alimentaria S.A.
(CORALSA)
Contact:
negocios@coralsa.com.cu
149 million
2 Instant dry yeast Production of 6,000 tons per year of instant dry yeast for tourism,
the domestic market and export.
Joint Venture Corporación Cuba Ron S.A.
Contact:
cubaron@cubaron.co.cu
14.5 million
Agro food industry

Zone A3
1 Monoclonal antibodies Monoclonal antibodies for therapeutic use in cancer and other
chronic diseases (capacity of 100 kg per year), from the active
pharmaceutical ingredient right up to the final product.
International
Economic
Association
CIMAB S.A.
Contact:
Dr. Agustín Lage Dávila,
lage@cim.sld.cu
90 million
2 Biodrugs to treat cancer and
other chronic diseases
New facility to produce recombinant proteins for treating cancer and
other chronic diseases, from the active pharmaceutical ingredient
(10 kg/year capacity).
International
Economic
Association
CIMAB S.A.
Contact:
Dr. Agustín Lage Dávila,
lage@cim.sld.cu
70 million
3 Oral biodrugs Oral biological medicines with a fermentative capacity of 500 L, for
manufacturing anti-salmonella vaccines and cholera probiotics.
International
Economic
Association
Laboratorios DALMER S.A
Contact:
Dra. Blanca Rosa Hung
Llamo, blanca@cnic.edu.cu
To be negotiated
4 Blood-based products plant Process 100,000 liters of plasma per year, with an efficiency of
18 grams of protein per liter of plasma. Incorporation through
technological transfer of factors VIII and IX of blood coagulation.
International
Economic
Association
Empresa de Sueros y
Productos Hemoderivados
Adalberto Pesant
Contact:
MSc. Marbelys Cayíz
Díaz, mcayiz@pesant.
biocubafarma.cu
113 million
5 Enteral medications (tablets,
caplets and capsules)
Building a plant to produce solid forms from natural products. For the
Cuban and Latin American markets.
International
Economic
Association
Laboratorios DALMER S.A.
Contact:
Dra. Blanca Rosa Hung
Llamo, blanca@cnic.edu.cu
40 million
6 Injectable cephalosporins and
carbapenemas, and oral penicillin-
based antibiotics
Injectable cephalosporins and carbapenemas, and oral penicillin-
based antibiotics with a capacity to obtain up to 21 million ampules,
500 million capsules and 20 million flasks for suspension, produced
from imported active principles.
International
Economic
Association
Empresa Farmacéutica 8 de
Marzo
Contact:
Lic. Nancy Oña Aldana,
nancy@8marzo.
biocubafarma.cu
120 million
7 Auxiliary services • Metrology and validation of measuring equipment laboratory
and production areas
• Specialized engineering services workshop for refrigeration,
water treatment systems, diagnostics for maintenance systems,
etc.
• Specialized treatment plant for solids, liquid and gas waste
• Water and steam treatment service plant
• Logistics services for warehouses for imported products and
moving import/export loads
International
Economic
Association
BioCubaFarma
Contact:
MSc. Jorge Sotolongo Peña,
jsotolongo@oc.biocubafarma.
cu
To be negotiated
8 *Biomaterial plant Joint venture Produce biomaterial-based products under NC-ISO 13485 and NC-
ISO 14971.
The facility us expected to produce 640,000 bulbs of TISUACRYL,
75 kilograms of BIOGRAFT-G and 125 kilograms of APAFILL-G on a
yearly basis. Production will be basically for export.
Joint Venture Centro de Biomateriales, BIOMAT
Contact:
Vicerrectoría de
Investigaciones, vilmah@rect.
uh.cu
1.5 million
Biotechnological Sector: developing and producing medicine

The Biotechnological and Pharmaceutical
Industries Group (BioCubaFarma)is a Cuban
entity that executes strategies and develops
technologies and products to help in the
prevention, early diagnostics and timely
treatment of several disorders; from pre-
conception to those of the elderly.
BioCubaFarma has 16 large enterprises that
maintain 78 manufacturing facilities that
employ more than 21,000 people. The group
produces and exports 1,099 products, including
generic and innovative. It has more than 800
marketing approvals abroad and exports to
more than 50 countries all over the world.
Within the biotechnology sector, several
entities are developing 91 product projects
to target infectious, oncology, diabetes and
cardiovascular diseases. The Intellectual
Property Rights of other products developed
by BioCubaFarma have been recognized in the
more than 1,700 patents granted abroad.
BioCubaFarma has developed a network
of partnerships internationally and has
incorporated joint venture companies in several
countries including China and Singapore.
BioCubaFarma offers comprehensive health
programs that include drugs and equipment
designed to achieve a high social impact. These
include:
• Disease prevention programs with
prophylactic vaccines;
• Programs for early diagnosis and treatment
of different cancer pathologies (including
therapeutic vaccines)
• Monitoring and treatment programs for
diabetes and its complications, such as
diabetic foot ulcers;
• Diagnostic and monitoring programs of
different diseases (cardiology, neurology,
etc.) with novel medical equipment;
• Programs for the detection of
malformations and metabolic hereditary
diseases.
BioCubaFarma uses various business models
including License Agreements, Representation
and Supply Agreements, and Technology
Transfer Agreements.
The group is open to foreign investment in Cuba
and is looking to expand its manufacturing
capacities through the development of joint
ventures to be located within ZED Mariel.
Cuba’s biotech industry “is the
best established compared to all
developing nations.”
U.S. journal Nature, 2011

22. Approved Users
TERMINAL DE CONTENEDORES
DE MARIEL S.A.
Cuban entity managed by PSA International
from Singapore
RICHMEAT DE CUBA S.A
Food processing
100% Mexican capital
PROFOOD SERVICE S.A.
Food processing
100% Spanish capital
BDC LOG S.A.
Logistics
100% Belgian capital
BDC TEC S.A.
Electronics
100% Belgian capital
SERVICIOS LOGÍSTICOS MARIEL
Logistics
100% Cuban company
BRASCUBA
Cigarette production
Cuban-Brazilian Joint Venture.
DEVOX CARIBE S.A.
Devox General Paint S.A
100% Mexican capital

EY Cuba Presentation - ZED Mariel Open to the World, Nov 2015

EY Cuba Presentation - ZED Mariel Open to the World, Nov 2015

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