US EditionCuba to allow nationals living abroad to own businesses on island, NBC News reports
Cuba’s new policy lets nationals abroad invest and own businesses, aiming to revive tourism, mining, and infrastructure amid a severe energy crisis, officials said.
- Oscar Pérez-Oliva Fraga disclosed in an exclusive NBC News interview that Cuba will allow nationals living abroad to invest in the private sector and own businesses on the island, announcing it Monday night.
- Facing a three-month fuel shortage, Cuban President Miguel Díaz‑Canel said no petroleum shipments have arrived, causing blackouts and postponed surgeries amid an island-wide energy crisis.
- Fraga, Cuba's deputy prime minister and minister of foreign trade and investment, told NBC News, 'This extends beyond the commercial sphere', noting investments include large infrastructure projects; the Miami Herald first reported the news citing an unnamed source.
- Allowing diaspora ownership could attract investment from Cuban nationals living abroad and foreign companies to revive tourism and mining, while Cuba confirmed talks with the Trump administration amid halted fuel shipments.
- Three months without fuel shipments have prompted rare violent protests, including clashes in Moron, northern Cuba, while Fraga said the U.S. 'blockade' deprives Cuba of financing, technology and markets.
111 Articles
111 Articles
Cuba Invites Diaspora to Own Businesses for First Time
Key Points — Cuba announced that overseas citizens and their descendants can invest in and own private businesses on the island for the first time since the revolution, under the Foreign Investment Law — The reforms also allow diaspora Cubans to establish investment banks, non-bank financial institutions, open foreign-currency accounts, and participate in infrastructure and […] The post Cuba Invites Diaspora to Own Businesses for First Time appe…
The blackouts and lack of fuel, the latent possibility of a social outburst, the pressures of Trump, dramatically limit the initiative
No Lights in Cuba But There Is a Breakthrough
There are no lights turned on in Cuba, but progress is being made. Secretary Rubio is on the verge of making a deal. Cuba says the Cuban diaspora can come home and own businesses there. They want the economic investment. It sounds like China, with its crony capitalist and communist party. It would be an […] The post No Lights in Cuba But There Is a Breakthrough appeared first on www.independentsentinel.com.
For decades, Cuba kept its countrymen living abroad out of its own economy. Now, the vice-premier announces "free business relationship with US companies".
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