FROM THE NOVEMBER 18, 2014 ISSUE
Are Companies Ready to Invest in Cuba?
Cuba's government on Nov. 3 asked international companies to invest more than $8 billion in the Caribbean island nation. The country's foreign commerce minister expressed hopes that the 246 projects being pitched by the government, ranging from an auto plant to a hog farm, would help spur Cuba's flagging economy. How interested are international companies in investing in Cuba? What benefits and drawbacks will companies encounter in investing there? What results have come from Cuba's four-year-old economic reform process?
Carlos A. Saladrigas, chairman of the Cuba Study Group and Regis HR Group: "Cuba's economic reforms so far have been too little, too late and too timid to result in significant economic performance. No doubt that U.S. sanctions on Cuba place an enormous burden on Cuba's ability to implement major macroeconomic reforms and its ability to attract investment capital. Yet, the continuing economic mismanagement, the numerous distortions in Cuba's economic and political systems, a stubborn ideology, an obtuse and weighty bureaucracy and the fears of change harbored by Cuba's leaders all play even more heavily in keeping Cuba's economy from reaching its full potential. Cuban leaders continue to expect..." MORE
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