Thursday, May 17, 2012

Foreign investment, in a holding pattern

Raul Castro declared as early as 2007 that Cuba needs more foreign investment, and the Communist Party’s economic reform blueprint reiterated the point: more foreign investment, from more countries, with projects evaluated more promptly and according to broader criteria. 

But not a great deal has happened, as Reuters reports.  One long-time investor, Unilever, is pulling out, and the golf course projects remain in the “any minute now” status where they have been for years. 

The current reforms are being rolled out on a timetable that extends to 2015, so maybe everything is right on schedule.  One wonders if the iffy health of Hugo Chavez is causing a re-assessment of the timetable. 

Meanwhile, the Economist reports on the arrest of a British subject some weeks ago, and El Universal reports on foreign capital flowing in to invest in houses and businesses.

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