Resources for Understanding Cuba’s Economy

Resources for Understanding Cuba’s Economy

Cuba’s economy is largely state-controlled, with the government owning most means of production and employing a majority of the workforce. Key sectors of the island nation’s economy that generate foreign exchange include the export of professional services (largely medical personnel to Venezuela & Brazil); tourism, which has grown significantly since the mid-1990s, with 3.5 million … Read more

Investing in Cuba: The Approval Process

Investing in Cuba: The Approval Process

Establishing an FDI project in Cuba requires case-by-case government authorization at the highest levels of government. Projects must be authorized by either the Council of State or the Council of Ministers, depending on the circumstances of the particular project, as described below. According to observers, the Cuban government is most likely to approve investment proposals … Read more

Richard Feinberg’s New Book on Cuba’s Frontier Economy

Richard Feinberg’s New Book on Cuba’s Frontier Economy

Reading Richard Feinberg’s book, Open for Business: Building the New Cuban Economy, reminds me of the phrase, “Sometimes it’s better to be approximately right rather than exactly wrong.” This point was driven home for me in the collapse of LTCM (run by two Nobel Prize-winning economists) – and provides an interesting counterpoint to Feinberg’s use … Read more

British Foreign Minister Visits Cuba, Agrees to Restructure Cuba’s Debt

British Foreign Minister Visits Cuba, Agrees to Restructure Cuba’s Debt

Today, in a series of high-level meetings, the UK’s Foreign Secretary called on his Cuban counterpart Bruno Rodríguez and other government leaders to discuss the recent social and economic changes in Cuba, human rights, trade and investment, and the fight against global health threats such as the Zika virus. During the historic visit, the Foreign … Read more

Cuba’s Construction and Agricultural Machinery Sectors

Cuba’s Construction and Agricultural Machinery Sectors

In the event that U.S. restrictions on trade with Cuba are lifted, Cuban demand for construction and agricultural machinery is likely to provide U.S. producers of such machinery with significant export opportunities in the near term. Cuba is currently upgrading its infrastructure in most areas and is working to increase the country’s agricultural productivity. Cuban … Read more