Cuba To Allow Nationals Abroad To Own Businesses — A Turning Point For Havana's Economy?

Benzinga

Mar 22

Cuba is opening a new door to capital as it looks to stabilize an economy under strain, with the government set to allow nationals living abroad to invest in and own businesses on the island. "Cuba is...

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Cuban nationals abroad, including those in Miami, will be allowed to invest in the country's private sector and take ownership stakes in businesses.\"This extends beyond the commercial sphere,\" Fraga told NBC News. \"It also applies to investments, not only small investments, but also large investments, particularly in infrastructure.\". Cuban officials c","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TPB":"Turning Point Brands Inc.","BK4075":"烟草"},"translate_title":"古巴允许海外国民拥有企业——哈瓦那经济的转折点？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TPB":1.5},"content_text":"Cuba is opening a new door to capital as it looks to stabilize an economy under strain, with the government set to allow nationals living abroad to invest in and own businesses on the island.\n\"Cuba is open to having a fluid commercial relationship with U.S. companies and also with Cubans residing in the United States and their descendants,\" Deputy Prime Minister Oscar Pérez-Oliva Fraga told NBC News.\nThe change reflects a need to find new sources of capital amid economic challenges and infrastructure breakdowns.\nThe policy marks a notable shift for a system that has historically restricted private ownership and foreign-linked participation. Cuban nationals abroad, including those in Miami, will be allowed to invest in the country's private sector and take ownership stakes in businesses.\n\"This extends beyond the commercial sphere,\" Fraga told NBC News. \"It also applies to investments, not only small investments, but also large investments, particularly in infrastructure.\"\nDon't Miss:\nFraga framed the changes as part of a larger attempt to reshape the economy's operating model. The reforms aim to create what he called a \"dynamic business environment,\" one that can attract both domestic and external investment while expanding the role of private enterprise.\nThe effort is part of a broader push to revive key industries, including tourism, mining and energy, and update aging infrastructure, according to NBC News. The approach appears designed to attract outside capital to support modernization and economic growth.\nThe shift reflects mounting pressure to generate new sources of revenue as traditional state-led models struggle to deliver stability. In practice, this could mean allowing small private firms and joint ventures to operate more freely.\nTrending: Think you're saving enough for your kids? You might be dangerously off — see why\nThe U.S. Embassy in Havana on Monday warned that \"Cuba's national electrical grid is increasingly unstable,\" underscoring the scale of the problem.\nThe outages follow months without petroleum shipments, leaving the island with limited fuel to sustain power generation and industrial activity, according to media reports. The instability is likely to raise the stakes for attracting external capital, particularly in energy infrastructure, where modernization requires funding the state cannot provide on its own.\nSee Also: Before you make an offer, ask these 6 questions every homebuyer should know — or face serious regret later.\nCuban officials continue to point to U.S. policy as a central obstacle to economic recovery. \"The United States blockade, the policy of hostility against Cuba, is undoubtedly an element that affects the development of these transformations,\" Fraga told NBC News. \nRead Next: Experts say these common ETF pitfalls can catch new investors off guard\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}