Cuba ready for first free-trade manufacturing zone
05/04/2013 58
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HAVANA, April 3 (Xinhua) -- Cuba on Tuesday unveiled rules for its first free-trade manufacturing zone in the so-called Mariel megaport outside Havana.
The Mariel Special Development Zone, which is developed with mostly Brazilian financing, will house manufacturing plants that make products for both domestic and international markets.
A decree published in the Government Gazette details regulations for the area and its operations, including customs fees and tax exemptions for certain imported goods which are to be exported with more added value.
Brazil's Odebrecht company is building most of the infrastructure of the 900-million-dollar Mariel port project, with 70 percent of the money coming from Brazil.
Part of the port is expected to begin operating this month, though it is not immediately clear when the manufacturing zone will be up and running.
April 3, 2013
Source: Xinhua
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