Boris Titov, head of the Russian delegation of the Cuban-Russian Business Committee, told a forum of Russian entrepreneurs in Havana that Cuba had decisively opened the door to Russian investment.
Titov said Cuba had offered Russian businesses the right to make use of Cuban land for 30 year-terms, an unusual concession to foreign firms in the communist-run country. The two countries, on opposite sides of the globe, are also considering ways to fast-track shipping between them, Titov said. Cuba in recent months has sought to woo investors from Russia and other politically allied nations in a bid to shore up its devastated economy, ravaged by the coronavirus pandemic, harsh U.S. sanctions and rampant inefficiencies.
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