Tag Archives: Foreign Investment in Cuba
In Cuba, foreign investors must partner with the Cuban government. The Cuban government expects foreign investments to generate revenue for the state on its terms. If the venture fails to meet the expectations of the state, the government may arbitrarily terminate the agreements and seek another naive investor for the project and there is no independent judicial system to adjudicate any investor claims. Continue reading
Foreign investors cannot hire, fire, or pay Cuban workers directly. They must go through the government employment agency which selects the workers. Investors pay the Cuban government in dollars or euros and the government, in turn, pays the workers a meager 10% in Cuban pesos. Corruption is pervasive, undermining equity and respect for the rule of law.