Lebanon looks to Havana

Cuba, famous for cigars, salsa dancing and Che Guevara, is now open for business! In the past year, Cuba has slowly been opening up to external markets and Lebanon is one of the first countries to have set foot on this territory. Cuba has undergone a number of changes in order to attract investments and business. First, they implemented the Law on Foreign Investment (LFI), also known as Law 118, which provides great incentives to attract new technology and foreign capital as well as increase domestic production. It also provides the main vehicles for foreign investment, be it a joint venture company, an international economic association contract or full foreign ownership. Its main objective is to establish the legal framework for foreign investments and the guarantees and legal security to attract and utilize foreign capital. It also provides greater tax incentives because of a special taxation regime: there are no