Cuba tells exiles doors are open' to invest in businesses in the country

"There are no limitations, Cuban Deputy Prime Minister Oscar Perez-Oliva Fraga, who also heads the Ministry of Foreign Trade and Foreign Investment, told state television in an interview. Cuba desperately needs to revive its collapsed economy, a predicament made worse by a US-imposed oil blockade and sanctions that have led to extended blackouts and shortages of fuel, food and medicine."

"The policy shift signals flexibility just days after Cuba acknowledged it had begun talks with the US, and as officials in the administration of US President Donald Trump have told reporters privately that the US would be seeking an economic opening as part of any bilateral agreement."

"The issue of allowing emigrants to invest in island businesses is a sensitive one for Cuba, which has long viewed an often hostile segment of the exile community with suspicion. Most exiles have long been proponents of the trade embargo."

Cuba is removing impediments to US and foreign investment while extending invitations to Cuban Americans and exiles to invest in and own businesses on the island. Deputy Prime Minister Oscar Perez-Oliva Fraga stated there are no limitations on foreign investment, though US law still prevents trade under the long-running economic embargo. This policy shift reflects Cuba's desperate need to revive its collapsed economy, worsened by US oil blockades and sanctions causing blackouts and shortages. The move signals flexibility following recent US-Cuba talks, with Trump administration officials privately indicating interest in economic opening. Allowing emigrants to invest represents a significant shift, as Cuba previously excluded nationals living off-island from business ownership, though islanders have operated private businesses since 2021.

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