Mexico’s El Financiero reports today that a Mexican meat processing and packaging company, Richmeat, is poised to become the first foreign firm to take advantage of a law passed last year allowing for direct foreign investment for the first time.

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Mexico’s ambassador to Cuba, Juan José Bremer de Martino, says representatives from 48 companies recently visited the island looking to invest and at least four of them have said they would announce deals this calendar year. The companies he named include Empaques Mayan, Corporativo Enciso y Grupo Kola Loka.

Richmeat plans to put up a processing plant in the Mariel Special Development Zone under the terms of a new law that allows foreign companies to own 100% of businesses in Cuba. Previously, foreign investors were allowed only to invest in joint ventures with the state.

References:
1- Image was taken by jonesday

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