Cuba's New Investment Measures: A Shift Away from Soviet Era Rules

Cuba Unveils New Investment Measures Amid Economic CrisisCubas Minister of Foreign Trade and Investment, Oscar Pérez-Oliva Fraga, announced new measures to attract foreign investment, aiming to boost the countrys struggling economy. These changes include allowing investors to operate in US dollars, directly hire employees, and invest in real estate. The proposed measures, if implemented, would mark a significant shift away from the strictly controlled investment rules of the past. Despite the dire economic situation, with daily power outages, a virus epidemic, and a plummeting local currency, Cuba approved thirty-two new businesses this year, valued at two point one billion dollars. However, the current political landscape, with increased US sanctions, poses a significant challenge to Cubas economic recovery.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.