New York Times

January 8, 1958. p. 62

Industry in Cuba Gets $200,000,000 Capital

Special to The New York Times

HAVANA—New investments of national and foreign capital in Cuban industry in 1957 amounted to $200,000,000, according to Dr. Joaquin Martinez Saenz, president of the National Bank of Cuba.

He expressed satisfaction with his program of industrial diversification to make Cuba less dependent on sugar, which has governed the island’s economic situation.

French, Italian and West German concerns are considering establishing factories here.

Dr. Martinez Saenz said a British concern soon might build a Cuban plant for assembling passenger cars and trucks.