05/09/2026
David Ramirez Alvarez on X social network:
🚨At press conference, Vice Prime Minister and Minister, Oscar Pérez-Oliva Fraga, reported on the new transformations in foreign investment and tourism. Summary of the most relevant points:
📌 “In the case of foreign investment, Decree-Law 128 has been published, amending Law 114 on foreign investment, which eliminates the mandatory requirement of hiring workers under the foreign investment modality through employing entities and leaves this alternative to their choice.”
📌 “Under these policies, joint ventures can be established between foreign companies, Cuban private companies, and cooperatives.”
📌 “The policy for real estate activities is also updated, providing greater flexibility to this sector.”
📌 “The policies related to the participation of foreign investment in trade in the general sense are updated, namely wholesale trade and retail trade.”
📌 “The requirements are established for legal entities that could directly carry out foreign trade. It should be noted that these requirements will be the same for any legal entity, regardless of the type of property or the nature of the institution.”
📌 “Hotel leasing modalities are permitted, the granting of the right of usufruct for already-built facilities, and even, in some cases where it is deemed appropriate, the sale of tourist facilities.”
📌 “Therefore, it demonstrates the authorities' willingness to expand, facilitate, and streamline all procedures related to the carrying out of foreign trade operations directly by those entities that so request and, of course, comply with the established requirements.”
📌 “These economic and social transformations (…) are going in the right direction, they are going in a positive direction. They are very well-discussed, very well-considered decisions by the government leadership, and we believe that, in the short, medium, and long term, the results of the implementation of these transformations will manifest themselves.”
📌 “The possibility for private entrepreneurs to associate with foreign capital could be a path where an interesting growth dynamic is observed; we believe it is an important novelty that will generate momentum in the economy.”
📌 “The situation the country is going through from an economic point of view is well known (…). This past year has been very complex and we know the causes. The unprecedented intensification of the United States blockade, the executive orders and, above all, directly (…) the persecution and direct threat to foreign investors who are present in Cuba.”
📌 “Financial relations, banking relations, and pressures on international carriers directly increase the cost of our foreign trade. And this has an impact on the costs of everything produced or services offered in Cuba.”
📌 “The intensification of the blockade, which threatens those who invest in Cuba, has directly cut off our country's banking and financial relations with many institutions and has imposed a commercial siege with direct threats to international shipping companies.”
📌 “Today we can say that there is less energy in Cuba because there are containers with resources for the electro-energy system that have not been able to arrive.”
📌 “Today we can say that there are foodstuffs contracted by all economic actors, by private companies, by state companies, under foreign investment modalities, that have not arrived in Cuba and have caused shortages of basic necessities.”
📌 “We can also say that the blockade is causing supply shortages of basic services in Cuba and is also causing the deaths of people due to a lack of medicines and basic resources for the health system.”
National Network on Cuba Canadian Network on Cuba
