Tuesday, April 1, 2014

Cuba and the new investment policies

Source of the article This new law will allow investments but the Statement "Cubans who live in Cuba are prohibited from entering certain hotels and restaurants where foreign tourists are permitted to stay" has not been true for a few years. It's hard to trust an expert who doesn't know current facts. I'm curious if there will be anything in the law regarding rights over bank accounts. The Cubans have frozen bank accounts in the past when money was tight and permission is still required to make foreign payments. It's hard to run a business when you can't pay your suppliers. ''Since 2010, the Cuban government has made incremental economic reforms. For example, in certain categories of employment, individuals are now allowed to work for themselves and not the government. The pace of reforms increased in the past year, when the government announced employees could take over failing government operations in certain categories such as transportation, and try to make a profit, which they then would split with the government 50-50.''

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