The Havana International Fair 2024 (FIHAV), regarded as the country's main investment platform, was inaugurated this Monday amid a weather alert for the possible passage of a cyclonic system next Wednesday and the island's ongoing energy crisis.
At the inaugural event of FIHAV 2024, held at ExpoCuba, Cuban leader Miguel Díaz-Canel was in attendance, along with Party, State, and Government officials, as well as ministers from various sectors. This was highlighted by the Presidency of Cuba on its social media.
FIHAV 2024 is scheduled to take place until November 9, which means the event will be affected by the weather phenomenon expected to make landfall on the island next Wednesday as Hurricane Rafael, a Category 1 storm.
Regarding this matter, the Minister of Foreign Trade (MINCEX), Óscar Pérez Oliva, noted that the event was relevant to hold because it aligned with "the will and decision of our Government to reinvigorate the economy, even under the most complex conditions," as reported by the Presidency of Cuba.
According to this source, ExpoCuba will host more than 700 exhibitors from 63 countries in an exhibition area of 19,400 square meters, surpassing the figures from the previous edition. Additionally, 250 companies from Cuba will be present.
Pérez Oliva also mentioned that 60 Cubans residing abroad are attending who are developing businesses on the island.
Last year, the Cuban leader boasted of having participation from 60 countries and 800 companies.
For the Cuban economy, which is urgently in need of dollars, the celebration of FIHAV 2024 is good news. The country requires over $3 billion in annual revenue from foreign investment, but recent statistics indicate a significant slowdown in already planned investments and a notable halt in new ones.
The government of Miguel Díaz-Canel is desperately seeking economic alliances to maintain its hold on power amidst the collapse of its electrical system and the rising poverty among Cubans.
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