HAVANA Nike Air Max 97 Zwart Kopen , March 29 (Xinhua) -- Cuban parliament on Saturday approved a new foreign investment law aimed at attracting badly needed capital through tax cuts, a measure officials said was vital for the development of the island country.

The National Assembly passed the legislation unanimously in an extraordinary session chaired by President Raul Castro and National Assembly chairman Esteban Lazo, local news agency Prensa Latina reported.

The new law will be put into force in 90 days after being published by Official Gazette of the Republic.

The new legislation offers better tax advantages to foreign investors by halving profits tax from 30 percent to 15 percent and exempting investors from paying it for the first eight years of operation.

Also, the legislation promises foreigners necessary investment security and non-expropriation guarantees Nike Air Max 97 Summit White Kopen , except for reasons of public utility or social interest, and with the due compensation, according to reports of the official media.

These incentives are offered to joint ventures with the Cuban state and partnerships linking foreign and Cuban companies, official media reports said.

Under the new law Nike Air Max 97 Undefeated Kopen , all economic sectors will be open to foreign investment, except public healthcare, education and security, excluding the business side of the armed forces www.airmax97kopennl.com , officials said.

The new law is to replace the current law that came into force since September 1995, when the then government headed by Fidel Castro allowed foreign investment in some sectors, such as tourism, in a bid to address the crisis created after the downfall of the Soviet Union Nike Air Max 97 Kopen Sale , the main ideological and economic ally of the island.

Vice President of the Council of Ministers, Marino Murillo, said the new investment law is badly needed for Cuba's national development.

"Cuba needs from 2 billion U.S. dollars to 2.5 billion dollars per year in direct foreign investment to advance its socialist socio-economic model, prosperous and sustainable Nike Air Max 97 Kopen Nederland ," Murillo told lawmakers in comments broadcast on state television.

"Not using those sources would retard national development," he said at the closed-door meeting.

On Friday night, Minister of Foreign Trade and Investment, Rodrigo Malmierca Nike Air Max 97 Kopen , argued for the necessity for attracting foreign investors.

"If the economy does not grow at levels of about 7 percent of the gross domestic product ... we will not be able to develop," he told local television. "For this to happen, we need 2 billion to 2. 5 billion U.S. dollars to come in foreign investment every year."

A week ago, Malmierca said the new investment law was designed to spur economic development "without abandoning our socialist project Nike Air Max Classic BW Zwart Grijs Kopen ," by offering "guarantees, incentives and better means to attract investment."

Cuban leader Raul Castro said in February that Cuba has "a compelling need" to attract foreign investment to boost the country's economic and social development.

Castro announced the extraordinary session late last year as Cuba's National Assembly usually meets twice a year, in July and December respectively.


by Marian Draganov

SOFIA, March 27 (Xinhua) -- After Sunday's early parliamentary elections, it was highly probable that Boyko Borissov would become Prime Minister for the third time since 2009.

Based on nearly all of the processed protocols, five political formations will enter the National Assembly, including Borissov's center-right GERB party, which won 32.66 percent of the vote, Bulgarian Socialist Party (BSP) -- 27.19 percent, the United Patriots -- 9.07 percent, the Movement for Rights and Freedoms (MRF) -- 8.99 percent, and Volya party -- 4.15 percent.

Later on Sunday, when the first exit polls were announced, Borissov said the results showed that his party was obliged to form a government.

He said GERB would make a huge effort to quickly form a government that would meet the expectations of the people.

The new government must be stable amid the Bulgarian presidency of the European Union (EU) Council in 2018, and the complicated international situation, Borissov said.

Analysts here believe that Borissov enjoys big chance to stay as the prime minister.

Dimitar Ganev is one of them, who predicted that a coalition government of GERB-United Patriots-Volya "looks realistic."

Another political analyst Boriana Dimitrova said on Sunday evening the instinct that Bulgaria should not deviate from its European path made the people reflect.

Dimitrova was echoed by Alexandar Marinov, who said that the international situation had begun to increasingly influence voters in terms of their expectations from the state.

Some political parties' leaders have also expressed their views towards the future government.

Valeri Simeonov, one of the leaders of the Patriots, said they would support a future government under certain conditions, while the leader of Volya, Veselin Mareshki, said his party would participate in negotiations with GERB in order to create a stable government.

MRF's leader Mustafa Karadayi also said it was important to have stability and security in Bulgaria.

Only Korneliya Ninova, leader of BSP, declared that her party would not participate in a coalition with GERB, but promised that if GERB failed to form a cabinet, BSP would try to do that "for the sake of country's stability and the forthcoming EU council presidency."

Just after voting on Sunday, Bulgarian President Rumen Radev said he hoped the parties would show "common sense and national responsibility," and that the new government would be formed as quickly as possible "at the cost of compromises that are inevitable in this situation."

Speaking at the official closing of the election campaign on Friday, Borissov, who was prime minister from 2009 to early 2013 and from late 2014 to January 2017, said his government had

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