Italy’s Lavazza Launches Joint Venture with the Cuban Coffee Industry
Assuring the new deal is not just a win for export markets, Michele Curto, president of the Association for Cultural and Economic Exchange with Cuba.
Dec 8, 2023
Members
Newsletters
Stay informed with our latest updates and insights
Kuba Brief
The government announced that the Cuban economy will not reach the three percent growth forecast for 2023 and has instead contracted by 1 or 2 percent.
Jan 3, 2024
Members
South Korea sees economic opportunity in new Cuban relationship
Cuba has significant mineral resources critical for electric battery production, such as cobalt and nickel. South Korea is home to three of the world's five biggest EV battery makers.
Feb 25, 2024
Members
Habanos says its cigar sales grew rapidly in 2023 to US$721mn
The company’s most important market was China, followed by Spain, Switzerland, Germany, and the UK. In the Americas the principal markets were Mexico, Canada, and Cuba itself.
Mar 3, 2024
Members
Cuba’s railways hoping for a brighter future with Russian support
Russian Railways executives have confirmed that they are planning to agree contracts that will see parts of Cuba’s strategically important railway system upgraded.
Mar 29, 2024
Members
Cuba Briefing 2 April 2024
- Canadian & Russian visitor numbers gradually lifting tourism\n- Sugar harvest set back by continuing fuel &other shortages\n- Marrero recognises growing crime rate requires stronger more open response
Apr 2, 2024
Members
Cuba Extends Tax-Free Import of Food & Medicines to June 30
Since 2021, the tax exemption for importing food and medicines has been in force / Courtesy\nFor other products, the tax exemption limit is increased, from $200 to $500.
Mar 30, 2024
Members
MINCEX to streamline investor process
The annual audit meeting of the Ministry of Foreign Trade and Foreign Investment (MINCEX) has heard it intends to "streamline the approval mechanisms” for foreign businesspeople and remove other ...
Apr 8, 2024
Members
Central Bank to reduce further cash in circulation, make banking more effective
The measures formed a part of a response to surging inflation in both the official and unofficial economy, and an ongoing government liquidity crisis.
Apr 14, 2024
Members
Swiss private bank pays multimillion-dollar fine for violating US sanctions
By paying a settlement, the Swiss bank EFG International avoids civil prosecution in the United States
Apr 22, 2024
Members
German superior court rules in favour of Havana on use of word Cuba on tobacco.
Germany’s Federal Court of Justice has ruled that the use of ‘Cuba,’ ‘Habana,’ and derivatives, as geographical terms of origin “for tobaccos of other origins are inadmissible.” Habanos SA said...
Apr 21, 2024
Members
SwissCubanCham is pleased to announce our new collaboration with the agency ZUTURO.
ZUTURO boasts national and international network and offers high-quality services. In addition to ad-hoc advisory services, they offer a wide range of services, including...
May 1, 2024
Members
Number of independently managed MSMEs at all-time high
The number of non-state and state MSMEs now stands at 11,118. Cuban reporting indicated that the process of approving more independently managed usually non-state entities is continuing and...
Apr 28, 2024
Members
Díaz-Canel says tourism remains ‘locomotive of the Cuban economy’
Speaking to journalists during this year’s annual international tourism fair, FitCuba 2024, Cuba’s President said that government considers the linkages the sector has, “generates development in ...
May 6, 2024
Members
Western Union restarts its money transfer service to Cuba
It noted that its customers can once again send up to US$2,000 from any retail location in the US, or via its website or mobile app to those in Cuba with bank and debit card accounts.
May 13, 2024
Members
Harold Hoffmann joins the Board of Directors
Harold has been a member of SwissCubanCham since 2017, and his professional journey includes a distinguished 33-year career at Nestle.
May 17, 2024
Members
Ferromar paves way for foreign investment in railways
The Cuban logistics company, Ferromar SA, has been approved as a user of the Mariel Special Development Zone (ZEDM). As such it will now expand its role as a provider of containerised rail cargo
May 19, 2024
Members
Minister says reducing price inflation may take longer than expected
Acknowledging that “the greatest dissatisfaction that our population has …. is precisely with price control,” he said, “we have to be much more rigorous and, above all systematic.”
May 27, 2024
Members
Cuba says it will not hinder new US MSME-related internet measures
Cuba has said that it will study new internet related measures introduced by the US Government, and not hinder them, as long as they “do not violate national legislation.”
Jun 2, 2024
Members
Ministers told economic situation still very tense, agree three priorities
According to the Minister, the focus will now be on increasing nickel production, making tobacco income profitable, developing innovative biotechnology products, strengthening tourism, ...
Jun 9, 2024
Members
Mariel freezone says focus now is on domestic market and regional exports
This year, he told viewers, “is showing growth, and we estimate it will be the year with the highest level of activity in the ten years of operation.”
Jun 16, 2024
Members
New immigration law updates rules for Cubans, migrants, resident foreigners
The change is intended to encourage economic engagement in what the law describes as “the new Cuban economy," by Cubans living overseas. To help achieve this, it offers Cubans living overseas.
Jun 29, 2024
Members
Cuba moves to address cash shortages, limit actions of non-state entrepreneurs
Cuba has moved to cap the profitability of non-state entities in their dealings with the state sector, and is to exert oversight of idle well-funded, tax-related bank accounts.
Jul 4, 2024
Members
Cuba to establish a ‘war economy’ - ministers outline new austerity plan
Cuba’s 2024 Plan and Budget will need to be adapted to meet the conditions of a “war economy” if the country’s fiscal deficit is to be brought under control...
Jul 14, 2024
Members
Amendments to laws aim to more closely regulate Cuba’s private sector
Six new decree laws containing legal provisions intended to regulate the future activities of all non-state economic actors have been agreed by Cuba’s Council of Ministers.
Jul 16, 2024
Members
Cuba’s President says ‘revolution must revolutionise itself’
Cuba’s President has told the closing session of a week-long meeting of Cuba’s National Assembly that the time has come for Cuba to change all that needs to be changed.
Jul 21, 2024
Members
Cuban Economist Deplores Díaz Refusal to Acknowledge Responsibility for Economic "Disaster"
Cuban economist Juan Triana Cordoví, a professor at the official Center for the Study of the Cuban Economy at the University of Havana, has criticized the economic measures....
Jul 22, 2024
Members
Distortions in the value of work in Cuba
An important problem to be solved in Cuba is the value of work in a society that eagerly seeks justice, said today doctor in science Luis A. Montero.\n
Aug 24, 2024
Members
State companies to be given authority to set profit-based salary levels
Cuba’s State companies are to be given the authority to determine employee’s wage and bonus distribution levels based on their skills and other factors.
Sep 4, 2024
Members
Latest tourism figures suggest achieving Cuba’s 2024 arrivals target difficult
International visitor arrivals decreased by 1.8% in the first seven months of 2024 in comparison to the same period in 2023 according to Cuba’s National Office of Statistics and Information (ONEI).
Sep 10, 2024
Members
Study Group forecasts tightening of regulations on Cuban MSMEs will hinder growth
The Cuba Study Group, a Washington based entity which encourages closer US economic integration with Cuba through the island’s diaspora, has said that the Cuban government’s recent tightening of ...
Sep 18, 2024
Members
Respected Cuban economist sets out breadth of economic challenge facing Cuba
Between 2019 and the first half of 2024 Cuba suffered a loss of more than US$4bn in external income forcing it to take urgent remedial measures, according to a detailed economic report produced by ...
Sep 25, 2024
Members
Respected Cuban economist sets out breadth of economic challenge facing Cuba
Between 2019 and the first half of 2024 Cuba suffered a loss of more than US$4bn in external income forcing it to take urgent remedial measures, according to a detailed economic report produced by ...
Oct 2, 2024
Members
Cuba at a ‘decisive moment’ - reforms not moving forward at pace intended
Cuba’s macro-economic reform programme is not moving forward at the speed government requires and a “decisive moment” has been reached, according to a subdued official report...
Oct 11, 2024
Members
Cuba seeks partner status in BRICS describing it as key geopolitical player
Cuba has written formally requesting partner status in the BRICS group of nations. The letter was sent to the Russian President, Vladimir Putin, as the bloc’s present pro-tempore Chair of the group.
Oct 17, 2024
Members
FIHAV 2024 to be “austere, decent and dignified
Speaking about the fortieth FIHAV which will take place from 4-9 Nov. at Expocaribe, said that some five hundred corporate and other representatives from some fifty nations are expected to participate
Oct 24, 2024
Members
BRICS to invite Cuba to become a partner state
The BRICS group of nations meeting in Kazan in Russia have indicated they are likely to invite Cuba to become one of 13 new ‘partner states.’ The grouping brings together as full members Brazil, ...
Nov 1, 2024
Members
Overwhelming support for 2024 UN resolution calling for an end to US embargo
Cuba has again won overwhelming international support for the annual resolution it presents to the United Nations General Assembly calling for an end to the US embargo.
Nov 6, 2024
Members
Vietnamese company Thai Binh to increase solar power involvement in Cuba.
Since 1998 Thai Binh has been a commercial pioneer in Cuba, that “among the lines of work it has been promoting investment in clean energy based on the needs and guidelines of the Cuban Government.
Nov 14, 2024
Members
Economy Minister says Cuba unlikely to experience GDP growth this year
A Cuban minister has said that Cuba will not experience any economic growth this year owing to the impact of hurricanes Oscar and Rafael and recent seismic activity in eastern Cuba.
Nov 20, 2024
Members
Finance Ministry reduces import duties to stimulate food supply
The new resolutions provide grants and exemptions from payment of customs taxes on imported raw materials, inputs, and intermediate goods such as fertilisers, feed, veterinary medicines and pesticides
Nov 29, 2024
Members
All private and foreign companies must provide 50% of own power by 2028
The Cuban government has gazetted measures that will require private and foreign companies considered to be large consumers of electricity to generate 50% of the energy...
Dec 2, 2024
Members
New resolution ends private sector’s role in wholesale trade
Cuba’s Ministry of Domestic Trade has gazetted a resolution regulating wholesale and retail marketing [sales] activities by non-state economic actors.
Dec 12, 2024
Members
Less bureaucratic approach to foreign investment planned
Oscar Pérez, the Minister of Foreign Trade and Foreign Investment, has stressed the importance of establishing a less bureaucratic approach to foreign investment,the need to create an infrastructure..
Jan 10, 2025
Members
Government clarifies position on dollarisation
Cuba’s Government has sought to clarify its policy of partial dollarisation of the economy.
Jan 15, 2025
Members
Biden lifts terrorism designation and sanctions: Trump to mull restoration
In a surprise announcement on 14 January, just days before demitting office, the White House said that President Biden was removing Cuba from the US list of state sponsors of terrorism...
Jan 24, 2025
Members
Trump reimposes Cuba terrorism designation, sanctions and restricted list
In the first hours of assuming the US Presidency, President Trump revoked the order published days earlier by the outgoing Biden Administration intended to remove Washington’s designation of Cuba...
Jan 27, 2025
Members
Fly direct with Edelweiss Air - last seats & special rates available until 27 February 2025
Hurry up and check it out .....\n\nIf you start your trip in Zurich and in February go to www.flyedelweiss.com\notherwise you find offers and combinations with other partner airlines on www.swiss.com \n\n
Jan 29, 2025
Members
Cuba ‘ahead of most Latin nations’ on cybersecurity: rapidly developing AI
Cuba is now far ahead of most countries in the region in relation to cybersecurity despite the absence of co-operation from the US, according to senior Cuban officials. It is also rapidly developing..
Feb 2, 2025
Members
Council of Ministers approve plan to create a new forex market this year
Cuba’s Council of Ministers have approved a detailed action plan for 2025 that places special emphasis on the delivery of “a new mechanism for the management, control and allocation of .....
Feb 9, 2025
Members
Western Union halts money transfer operations
Western Union has said that it has suspended its money transfer services to Cuba following the decision by the US Secretary of State, Marco Rubio, to add ....
Feb 17, 2025
Members
Ministry of Foreign Trade and Investment (MINCEX) told it must strengthen its role
Cuba’s Ministry of Foreign Trade and Foreign Investment (MINCEX) must play a greater role in helping Cuba acquire foreign currency and government to fulfil its programme of macro-economic reform....
Feb 24, 2025
Members
Economy and Planning ministry told it must adapt to need for a war economy
President Díaz-Canel has called for the Ministry of Economy and Planning (MEP) to “have a clear strategy and more coherent thinking on economic issues in the difficult circumstances ...
Mar 4, 2025
Members
Havana Club rum sales continue to grow – China a future market focus
Sales of Havana Club rum continue to grow both in Cuba and internationally according to Cristian Barré, the CEO of Havana Club International SA. Havana Club,...
Mar 10, 2025
Members
CARICOM ministers defend Cuban medical support, criticise US visa withdrawal
The US Secretary of State, Marco Rubio, is expected to visit the Caribbean before the end of March to meet with CARICOM governments to discuss among other matters the decision by.....
Mar 16, 2025
Members
US imposes new conditions of entry on shipping and Cuban ports
The US Coast Guard has said that it will impose new conditions of entry on vessels arriving from Cuba as the island “does not have effective anti-terrorism measures.”
Mar 24, 2025
Members
Cuban government says progress being made on new foreign exchange control mechanisms
The Cuban government has said that it is making progress on developing the necessary mechanisms to design a new foreign exchange control system.
Apr 1, 2025
Members
Swiss bank ends business relationship with Cuba-related clients
The Swiss bank PostFinance, the financial services arm of the Swiss post office, has closed the accounts of a small number of Swiss customers living abroad with links to Cuba.
Apr 7, 2025
Members
Some foreign companies told they must open a new type of foreign currency bank account
Several foreign companies operating in Cuba have been told that they will not be able to repatriate the foreign currency they hold in Cuban bank accounts, the news agency EFE has reported.
Apr 19, 2025
Members
Ministry warns about importing equipment to access Starlink
In a separate but related development, the Cuban Ministry of Communications has amplified recent public warnings by senior ETECSA executives.....
Apr 22, 2025
Members
BioCubaFarma seeking new suppliers and strategic alliances in Europe
BioCubaFarma has said that it is seeking as a priority new suppliers and strategic alliances in Europe and elsewhere to ensure that its planned research and development programmes advance, and ...
Apr 28, 2025
Members
Cuba to operate a twice weekly flight service to Germany
Cubana de Aviación is to resume flights to Germany. Its announcement follows the withdrawal of services from the country to Cuba by the European airlines Condor and Edelweiss.
May 6, 2025
Members
Deadline extended for closing non-state MSMEs that provide wholesales services.
Betsy Díaz,the Minister of Domestic Trade, has extended the deadline set to establish which MSMEs currently undertaking wholesale marketing as their main activity will be allowed to continue to do so.
May 15, 2025
Members
Inflation showing signs of moderating slightly.
Official figures published by the National Office of Statistics and Information (ONEI) indicate that in April the official monthly inflation rate rose by just 0.4%,the lowest monthly increase since...
May 20, 2025
Members
Collapse in sugar production signals new economic crisis for Cuba
As Cuba’s 2024-25 sugar campaign draws to a close, provincial reporting, as well as industry sources cited by Reuters, suggest that the island is headed this year for an unplanned ...
May 29, 2025
Members
Cuba promotes itself as a logistics hub for Latin America to Eurasian companies
Cuba’s Chamber of Commerce has hosted a seminar to promote the potential of Cuba as a logistics hub for Eurasian trade with the countries of the Americas. \n
Jun 2, 2025
Members
FIHAV 2025 to take place in late November
Cuba’s Minister of Foreign Trade and Investment, Oscar Pérez-Oliva Fraga, has said that this year’s Havana International Fair (FIHAV) will take place from 24-29 November at Expocuba.
Jun 10, 2025
Members
Economy minister calls for new ideas to reestablish GDP growth
Cuba’s Minister of Economy and Planning (MEP), Joaquín Alonso, has called on Cuban economists to propose ideas that might enable the Cuban government to make faster and more efficient progress in...
Jun 17, 2025
Members
Economists’ proposals only a ‘working guide’ for Cuban ministries
Cuba’s National Association of Economists and Accountants of Cuba (ANEC) has as requested sent to government a document proposing ways it might better address the economic challenges facing ...
Jun 23, 2025
Members
New electronic visa now mandatory to enter Cuba
MINTUR warned against the proliferation of fake visa websites charging excessive fees or providing invalid documents, noting that only the official government platform should be used.
Jun 30, 2025
Members
Cuba tells Eurasian Bloc leaders island can become their logistics bridge to Latin America
President Díaz-Canel has told Heads of Government attending a meeting of the Supreme Eurasian Economic Council (EEAC) in Minsk that Cuba can serve as a bridge for the bloc’s interest in developing...
Jul 7, 2025
Members
Marrero admits government is dissatisfied with its failure to deliver
Cuba’s Prime Minister, Manuel Marrero, speaking during the recently ended Plenary of the Cuban Communist Party's Central Committee, said that government remains "deeply dissatisfied ...
Jul 16, 2025
Members
National Assembly told Cuba facing ‘a most difficult moment’ in its history
Describing the present moment as being amongst the most difficult in recent Cuban history, President Díaz-Canel has called on all Cubans to commit their energy and...
Jul 21, 2025
Members
Minister of Economy sets out key economic challenges government must address
Participating in several Commission meetings - working groups of Cuba’s National Assembly – Cuba’s Minister of Economy and Planning, Joaquín Alonso, sought to address with delegates the most....
Aug 3, 2025
Members