For European and Spanish companies operating in Cuba has many benefits and some drawbacks, given the fact that it is a “state-managed” economy whose opening up is complicated by the search for a socio-economic model of its own, that does not renounce or deteriorate the achievements of the Revolution.
In recent years, the Cuban economy has been looking for budgetary balance and financial sufficiency to overcome its cyclical difficulties: delays in payments and obstacles, and bureaucratization of commercial and economic decisions, which cover in opacity some of the operations that, in certain cases, can be described as arbitrary. On the other hand, Cuba represents an interesting market for European and Spanish companies because it has taken the path of legal security, with Foreign Investment Law 118 of March 2014, and has a diversified economy, very qualified and competitive human resources, and a population of around 11.5 million inhabitants. It is also, in all likelihood, the safest country in the hemisphere in terms of physical security, it does not pose a risk for executives of foreign companies.
With these strengths, and reinforcing the weaknesses to which we have been exposed during the intense work over more than six years in the Island, ICP Consulting has developed lines of projects in Cuba in the field of investment, sale of industrial and laboratory material, tourism or culture.