The Cuban-Chinese joint venture SUMAI S.A. has received its inaugural shipment of goods from China in Holguín and is progressing with the renovation of the Las Novedades market, situated at the heart of the City of Parks. This new commercial space is set to open soon, as announced on Facebook by the Provincial Business Group of Commerce in eastern Cuba.
The official statement highlighted this move as part of efforts to boost economic and social development, alongside invigorating foreign investment in domestic commerce.
Images shared online depict the site undergoing upgrades, with painting, plastering, and furniture preparation underway.
SUMAI S.A.: A Cuban-Chinese Collaboration
Established in January 2025, SUMAI S.A. is a collaboration between Cuba's ALBUS S.A. and China's Hangzhou Iunke Industrial Development Co., Ltd. The venture operates under the Latin America Investment and Trade Platform (PICLA), linked to the Belt and Road Initiative.
The company's product range includes solar panels, food, construction materials, hardware, home appliances, and school supplies.
Significant Offerings and Operational Expansion
Among their offerings are 590-watt monocrystalline solar panels boasting a maximum efficiency of 23.2%, a critical resource in a nation facing electricity shortages exceeding 2,000 MW and experiencing power outages lasting over 20 hours daily.
SUMAI began a trial phase in Camagüey on December 31, 2025, and subsequently expanded operations to Havana and Holguín. In April, local broadcaster Radio Angulo reported PICLA's entry into the province, initially focusing on the textile and footwear sectors.
Exclusive Dollar-Based Transactions
Despite the government's portrayal of the Cuban-Chinese trade expansion as part of its economic reforms, access to these stores is restricted in a way unmentioned in official announcements. SUMAI is permitted to operate solely in U.S. dollars, accepting cash or authorized cards in Cuba.
In a nation where the average monthly salary is under $20, this sales model restricts access to those with alternative means of obtaining dollars.
Legal Framework Supporting Foreign Investment
The legal foundation for these initiatives includes Decree-Law 114/2025, published in the Official Gazette on March 3, which introduced the mixed S.R.L. structure for partnerships between state entities and non-state actors.
Furthermore, Decree 153/2026, dated July 9, amended the Foreign Investment Law regulations to expedite the influx of foreign capital.
Eimy Iturralde, SUMAI S.A.'s commercial chief, has stated the company was created to provide "a broader, more diverse, and competitive offer." However, she did not specify who the target audience is.
Understanding SUMAI's Impact on Cuba's Economy
What types of products does SUMAI S.A. offer?
SUMAI S.A. offers products including solar panels, food items, construction materials, hardware, home appliances, and school supplies.
How does SUMAI's dollar-only policy affect Cuban consumers?
The dollar-only policy limits access to SUMAI's goods to individuals who can acquire U.S. dollars through means other than the average Cuban salary, which is less than $20 a month.
What legal changes support foreign investment in Cuba?
Decree-Law 114/2025 introduced a new mixed S.R.L. structure for partnerships, while Decree 153/2026 amended foreign investment regulations to attract more foreign capital.