Panamanian entrepreneurs explore business opportunities in Cuba

A business forum between Cuba and Panama was held here on Wednesday to expand economic and commercial ties between the two countries.

The forum was part of the visit by a Panamanian delegation comprised of entrepreneurs working in construction, real estate, land and air transport, energy, manufacturing, tourism, hydrocarbons and electricity, according to the Cuban Chamber of Commerce.

The entrepreneurs have received broad information about Cuba's legal framework and business portfolio for direct foreign investment in the country, especially at the Special Development Zone in the port of Mariel, 45 km west of Havana.

In September, Panamanian President Juan Carlos Varela paid his first official trip to Cuba, during which he expressed willingness to increase bilateral economic ties and cooperation on health, society and culture.

Varela was accompanied by a delegation of entrepreneurs looking for business opportunities after the restoration of the Cuba-U.S. diplomatic relations and the possible lifting of the U.S. embargo against Cuba in the future.

A foreign investment law passed last year in Cuba offers tax breaks to lure more overseas capital. The country seeks to attract at least 2.6 billion U.S. dollars annually in direct foreign investment to boost its economic and social development. Endi