HAVANA, Cuba — Cuba will sign a contract for the creation of a joint venture this year directed at the development of a golf complex in the province of Pinar del Rio that upon completion will be one of the largest in Latin America and the Caribbean.

Yuslenia Saumell, business specialist at the tourism ministry, said that before the end of the year they will iron out the proposal with the Spanish company that will execute the work alongside its Cuban counterpart in the Punta Colorada project.

She also said that a similar project in El Salado, which is part of the Mariel Special Development Zone, is also in its final approval stage.

Created with the Chinese Beijing Enterprises Holdings Limited company and the British Essence Hotels and Resorts, there are currently two joint firms for the construction of the site associated with golf courses in Bello Monte in Havana and in Varadero resort.

During the International Seminar of Tourism Journalists underway in Havana, with the participation of reporters from 12 countries, the Cuban specialist explained that until now there are over 60 foreign investment projects under negotiation.

She also mentioned the recent signing of two contracts with the US Starwood group belonging to the Marriott hotel chain for the management of the Inglaterra and Quinta Avenida Hotels, both in Havana.

Saumell also noted that new hotel management contracts are expected to be signed his month with Spain and Canada and that talks are underway with other markets such as the United Arab Emirates and China that are interested in exploring investment opportunities in Cuba’s tourism industry.

The Cuban tourism ministry has a portfolio that includes 127 projects, of which 25 are for the construction of hotels, 97 for hotel management, with or without foreign financing, and five dedicated to marinas.

There is a program for the construction of 108,000 new rooms, of which 30,000 will be financed with foreign capital from now until 2030.