Story perspectives

Cuba Opens Doors for Overseas Investment Amid Economic Struggles

3/17/2026

Summary

Story summary

Cuba's Deputy Prime Minister Oscar Pérez-Oliva Fraga said nationals abroad can now invest in and own businesses in Cuba to attract investment amid economic challenges, including oil shortages causing blackouts.
Pérez-Oliva said Cuba seeks a fluid relationship with U.S. companies and reforms are needed to improve infrastructure.
U.S. sanctions complicate efforts and require authorization for investments.
Cuba's foreign minister said U.S. talks will not affect Cuba's political or economic models.

History

Historical Context

In 2011, Cuba began significant economic reforms under Raúl Castro, introducing limited private enterprise and foreign investment to revitalize an economy long hindered by U.S. sanctions. By 2021, Deputy Prime Minister Oscar Pérez-Oliva Fraga announced plans to attract investments from over 1 million expatriates, signaling a potential shift towards a more market-oriented economy while maintaining the socialist framework.

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Story summary

Cuba's Deputy Prime Minister Oscar Pérez-Oliva Fraga said nationals abroad can now invest in and own businesses in Cuba to attract investment amid economic challenges, including oil shortages causing blackouts.
Pérez-Oliva said Cuba seeks a fluid relationship with U.S. companies and reforms are needed to improve infrastructure.
U.S. sanctions complicate efforts and require authorization for investments.
Cuba's foreign minister said U.S. talks will not affect Cuba's political or economic models.

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