US EditionCuba to allow nationals living abroad to own businesses on island, NBC News reports
Cuba aims to revive tourism, mining, and power sectors by allowing diaspora investments amid a three-month fuel shortage blamed on the U.S. blockade, officials said.
- Cuba's deputy prime minister Oscar Perez-Oliva Fraga announced that the country will allow nationals living abroad, including those in the United States and their descendants, to invest in and own private businesses, according to NBC News.
- Facing an energy crisis caused by halted shipments, Fraga said the United States blockade restricts financing, technology and markets, while Cuban President Miguel Díaz-Canel reported no petroleum shipments for three months, sparking protests in Moron, northern Cuba.
- Targeting recovery, the reforms aim to revive the tourism and mining sectors and fix the antiquated power grid; Fraga said, 'This extends beyond the commercial sphere', including large infrastructure investments.
- On Friday, the Cuban government confirmed talks with the administration of President Donald Trump, who warned Cuba it could face Venezuela's fate and said, 'I think we will pretty soon either make a deal or do whatever we have to do'.
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Cuba to allow nationals living abroad to own businesses on island, NBC News reports
Cuba plans to allow nationals living abroad, including in the United States, to invest in and own businesses on the island, the country's deputy prime minister told NBC News, a policy shift that signals flexibility just days after Cuba acknowledged talks had begun with the Trump administration.
On Monday night, the Cuban government will officially announce the strategy it seems to be betting on to deal with the historic crisis in which the island is mired. The country that has for years set limits with its diaspora will now be open to Cuban residents abroad to return and invest in the private sector and own businesses, one of the economic reforms they will push forward in the midst of pressure exerted by the Donald Trump administration.
Havana will allow Cubans abroad to own businesses on the island, trade minister says
Cuba is allowing Cubans abroad to invest and own private businesses on the island, a reform confirmed by the deputy prime minister and prompted by pressure from the Trump administration.
Cuba will allow nationals living abroad to invest in and own businesses on the island, economic czar tells NBC News
Cuban nationals living abroad in places such as Miami will be allowed to invest in the private sector and own businesses in their homeland, the country's economic czar has told NBC News in an exclusive interview.
Cuba Will Allow Nationals Living Abroad to Invest
"Cuban nationals living abroad in places such as Miami will be allowed to invest in the private sector and own businesses in their homeland," the country's economic czar has told NBC News.Said Oscar Pérez-Oliva Fraga: “Cuba is open to having a fluid commercial relationship with U.S. companies
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