Russian Investment in Cuba’s Biotech Industry
A new law which opens Cuba up to foreign investment, along with a shift in the country’s relations with the EU, is aimed at seeking outside support to help boost the economy. The new foreign investment law, approved on March 29, 2014, invites foreign (including Russian) investors to operate in main sectors of the Cuban economy. Russia is one of fifteen countries who have already invested in the island country. With the new law, companies can be funded entirely by foreign capital, eliminating the state maintained control practiced by the previous law.
Leaders of the Russian and Cuban delegations signed an agreement in November of 2013 designating a plan of action that would be beneficial to both countries. The aim of this plan is to strengthen the mutual promotion of goods and services in both markets and promote direct contact between Moscow and Havana through greater collaboration – an effort in which Russian interpreting services will play a vital role.
The plan also emphasizes further development of priority areas including industry, culture, health, agriculture, transportation, and science and technology. During a meeting, held on the opening day of the 2014 Havana International Fair, the two countries stressed the need to expedite the negotiation process. Among the main items addressed is the need to resolve customs issues to facilitate the introduction of health and biotechnology products into the Russian market.
About Language Connections:
Language Connections is one of the top language service companies in the US. Over the last 30 years, we’ve focused on providing the best business translation services, interpreting services, as well as interpreter training and customized language training programs. In addition to top-tier corporate language training, we offer certified corporate interpreters and professional business translation services in 200+ languages. Our network includes linguists with backgrounds in all major industries. They’re ready to meet your needs, whether they’re for technical translation services, legal translation, government translation services, international development translation services, education translation services, life sciences translation, or something else. Reach out to us today for a free quote on our cost-efficient and timely translation services, interpreters, or other linguistic services.
Language Connections Inc.
2001 Beacon Street, Suite 105,
Boston, MA 02135
Phone: +1-617-731-3510
Email: service@languageconnections.com