Cuban President Signs Decree To Set Up First Special Development Zone

Cuban President Signs Decree To Set Up First Special Development Zone

HAVANA, Sept 21 (Bernama) -- Cuba's President Raul Castro has signed a
decree on the first Special Development Zone (SDZ) in the Mariel port,
50 km west of Havana, China's Xinhua news agency said quoting the
official daily Granma's report on Friday.

The SDZ, at a cost of over US$900 million, is an ambitious
infrastructure project proposed by Castro since he took office seven
years ago.

The zone, covering an area of about 465 square kilometers, includes
several municipalities of the Artemisa province.

Besides its deep waters, the Mariel harbor was chosen because of its
existing roads and railways infrastructure, and its proximity to Havana
city and the Jose Marti International Airport.

Port terminals, logistical facilities, industrial parks, water and
electricity supply networks, waste treatment plants, shopping centers,
exhibition halls, recreation areas and accommodation facilities will be
built in the area.

According to the news report, both domestic and foreign capital are
welcome for the project.

According to the Ministry of Finance and Prices, the companies in the
area will be under a special tax regime, including the exemption of some
duties.

Castro said the SDZ is the most complex project undertaken in Cuba, with
a direct impact on the increase of exports, the development of high-tech
projects and job creation.

Source: "BERNAMA - Cuban President Signs Decree To Set Up First Special
Development Zone" -
http://www.bernama.com/bernama/v7/wn/newsworld.php?id=979416