Cuba opens up to investments from Cubans living abroad

"Cuba now plans to allow Cuban residents abroad to return, invest in the private sector, and own businesses. This shift is presented as part of a broader set of economic reforms being pushed forward amid pressure from the Trump administration."

"Oscar Perez-Oliva Fraga, Cuba's deputy prime minister and minister of foreign trade and investment, said Cuba is open to having a fluid commercial relationship with U.S. companies and also with Cubans residing in the United States and their descendants. This extends beyond the commercial sphere, added Fraga. It also applies to investments not only small investments, but also large investments, particularly in infrastructure."

"The strategy focuses on empowering the private sector to bolster Cuba's depressed economy, where inflation exceeds 12%. From the outset, U.S. Secretary of State Marco Rubio has said that the goal is to foster change in Cuba's ailing economy, rather than political change."

Cuba is implementing significant economic reforms to address its historic crisis, including allowing Cuban residents abroad to return, invest in the private sector, and own businesses. Deputy Prime Minister Oscar Perez-Oliva Fraga stated Cuba is open to commercial relationships with U.S. companies and Cuban-Americans, including large infrastructure investments. These reforms follow President Diaz-Canel's acknowledgment of negotiations with the United States. The White House previously cleared private businesses to import unlimited fuel from the United States. The strategy aims to empower the private sector to strengthen Cuba's depressed economy, where inflation exceeds 12%. U.S. Secretary of State Marco Rubio emphasizes the goal is economic rather than political change.

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