Marubeni Corporation (“Marubeni”) will establish an office in Havana, the capital of Cuba.

 

In May 2015, the United States formally removed Cuba from a list of state sponsors of terrorism, and in July 2015, diplomatic relations were formally restored between the two countries. As the market begins to open up, interest in Cuba from foreign companies is increasing.

 

Marubeni has an established track record in Cuba comprising such projects as plant businesses, machineries, foods, chemicals and steel products. Due to the long-term economic sanction, there are accumulated demands for durable goods such as cars and industrial machineries as well as various infrastructure and plant developments in the market. Under these circumstances, Marubeni has decided to dispatch rotation staff to open the branch at an early stage in order to develop various business opportunities once sanctions are lifted.