Investment Package for Iranian Business Leaders

TEHRAN (Iran News) Hassanzadeh recalled Iran’s appreciation for Cuba’s cooperation during the COVID-19 pandemic, particularly in supplying vaccines to Iran, and said the main proposal from Iranian businesses is readiness to help revive and reconstruct Cuba’s large, long-inactive factories and enterprises.

He stressed that for such collaboration to succeed, Iranian investors must become familiar with Cuba’s foreign investment regulations, and necessary facilitation measures should be provided to ensure investment security while enhancing the appeal for Iranian participation.

Qadir Gheifeh, Vice President of Iran’s Chamber of Commerce, noted the wide range of cooperation opportunities between Iran and Cuba, emphasizing the potential for mutually beneficial “win-win” partnerships. Gheifeh highlighted that Cuba’s governance structure relies heavily on state mechanisms for major projects and underscored that investment security is a prerequisite for attracting investors. He added that Iranian businesses must gain greater familiarity with Cuban industrial and trade regulations to enter the market successfully.

He predicted that if the legal framework is favorable, bilateral trade between Iran and Cuba could reach $1 billion within five years. Gheifeh identified priority sectors for Iranian investment, including construction, road development, food production, agriculture, and mining, noting Iran’s technical expertise in mining and mineral processing could facilitate collaboration from exploration to production.

The Cuban Minister of Domestic Trade, citing directives from the Cuban President, announced efforts to identify opportunities for importing food, clothing, and consumer goods from Iran following the Iranian pavilion’s showcase at the 2025 Havana International Fair. He emphasized Cuba’s flexibility in trade and the potential to establish new joint ventures and expand bilateral economic activities.

The minister said Cuba’s main policy is to meet the population’s priority needs by building domestic production infrastructure. He stressed that domestic investment is the most effective way to offset the economic impact of U.S. sanctions.

Reiterating Cuba’s commitment to support foreign investors, the minister also noted that investors must accept the inherent risks. He added that the Iranian Embassy in Havana would facilitate communication regarding Cuba’s priority needs, including energy, food, and clothing sectors, and expressed readiness for cooperation in these areas.

Meanwhile later Hassanzadeh emphasized Iran’s capacity to help revive Cuba’s sugar industry and establish cement factories during a meeting with Antonio Caricarte Corona, President of Cuba’s Chamber of Commerce. Hassanzadeh requested that Cuba provide a list of idle factories and priority needs to guide Iranian businesses in expanding trade and investment.

Speaking during the Iranian trade delegation’s visit to Cuba, Hassanzadeh highlighted the Havana International Fair as an excellent opportunity to strengthen commercial relations. “Chambers of commerce worldwide have a social responsibility toward their nations, and we are committed to fulfilling this role,” he said.

He noted that both Iran and Cuba have long experienced harsh sanctions but stressed that Iran has developed substantial capabilities in technical and engineering services, modern agricultural technologies, food production, and industrial machinery despite these challenges.

Hassanzadeh explained that Iran is ready to participate in restoring Cuban production units that remain inactive due to sanctions. “Cuba has a long history of sugarcane cultivation, sugar production, and exports worldwide, but the industry is not as vibrant today. We believe Iran can play a significant role in revitalizing this sector,” he said.

The Iranian chamber president also highlighted opportunities for joint cooperation in medical and pharmaceutical fields, noting Cuba’s medical capabilities and Iran’s production of drugs and medical equipment.

He emphasized the importance of expanding domestic production and self-sufficiency as a key element of economic resilience. “For example, cement is not something Cuba should rely on imports for. Iranian investors are ready to establish several cement factories in Cuba under defined regulations and guarantees,” Hassanzadeh said.

In conclusion, he requested that the Cuban Chamber of Commerce provide a comprehensive list of idle factories and priority needs to help Iranian businesses better understand opportunities for collaboration.

Qadir Gheifeh, Vice President of Iran’s Chamber of Commerce, added that despite sanctions, Iran has achieved significant industrial growth. “The peoples of Iran and Cuba understand each other well. Cubans have endured unilateral sanctions for over 65 years, and Iran has faced the harshest sanctions. Yet these challenges have not stopped us from striving for development,” he said.