US EditionCuba to allow nationals living abroad to own businesses on island, NBC News reports
Cuba’s new policy aims to revive key sectors like tourism and mining by allowing overseas nationals to invest amid energy shortages and U.S. sanctions, Deputy Prime Minister said.
- Oscar Pérez-Oliva Fraga disclosed in an exclusive NBC News interview that Cuba will allow nationals living abroad to invest in the private sector and own businesses on the island, announcing it Monday night.
- Facing a three-month fuel shortage, Cuban President Miguel Díaz‑Canel said no petroleum shipments have arrived, causing blackouts and postponed surgeries amid an island-wide energy crisis.
- Fraga, Cuba's deputy prime minister and minister of foreign trade and investment, told NBC News, 'This extends beyond the commercial sphere', noting investments include large infrastructure projects; the Miami Herald first reported the news citing an unnamed source.
- Allowing diaspora ownership could attract investment from Cuban nationals living abroad and foreign companies to revive tourism and mining, while Cuba confirmed talks with the Trump administration amid halted fuel shipments.
- Three months without fuel shipments have prompted rare violent protests, including clashes in Moron, northern Cuba, while Fraga said the U.S. 'blockade' deprives Cuba of financing, technology and markets.
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42 Articles
Donald Trump told him to "take" Cuba "in one way or another."
Miguel Díaz-Canel’s regime announced an unprecedented move: it will allow Cubans living abroad—especially in the United States—to invest and own businesses on the island. This came to light, while the country is once again in the dark. Read more
Cuba plans to open up to investment from nationals living in U.S., as Trump puts pressure on island
The Cuban government is planning to allow Cuban nationals who live abroad to invest in the island, a government official told NBC News, as the country faces economic collapse and pressure from the Trump administration.
The permit is granted to the Communist government of Havana, which has long been mistrustful, a often hostile segment of the exiled community.
Cuba to allow nationals living abroad to own businesses on island, NBC News reports
Cuba plans to allow nationals living abroad, including in the United States, to invest in and own businesses on the island, the country's deputy prime minister told NBC News, a policy shift that signals flexibility just days after Cuba acknowledged talks had begun with the Trump administration.
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