[lbo-talk] Cuba's painful transition from sugar economy

Michael Pugliese michael.098762001 at gmail.com
Wed Aug 24 16:32:45 PDT 2005


Google, "foreign investment Cuba, " this is the 2nd "hit, " you get http://www.cubafirst.com/

...pretty crass w/ the dollar sign, eh!


>..."First" Cuba based foreign consulting team with 9 years experience!

Since the introduction of the foreign investment law in October 1995, foreign investors have literally flocked to Cuba in their droves. The #77 Law permits foreign investment in just about any area of the Cuban economy. To press, main areas for investment are: Light Industry, Heavy Industry, Textiles, Agriculture, Tourism, Real Estate, Telecommunications, Import - Export

Presently some 900 branch offices are registered in the Chamber of Commerce, there are commercial ties with over 3 200 foreign companies from approximately 150 countries. The Cuban government is looking for capital, markets and technology via links with foreign enterprises. According to official data, the capital accumulated from these "joint ventures" (May 2003) exceeds 3.8 billion dollars. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ http://www.cubatrade.org/foreign.html

Foreign Investment and Cuba The following figures represent the overall amounts of announced, committed, and delivered investments since 1990 by private sector companies and government-controlled companies from various countries to enterprises within the Republic of Cuba as of 20 March 1999. Information, which may or may not be in the public domain, compiled through the media, other public sources, individual discussions with company representatives, non-Republic of Cuba government officials, and Republic of Cuba-based enterprise managers and government officials.

On 15 March 1999, the United States Department of State in Washington, D.C., reported that an estimated total of US$1.7 billion had been invested in the Republic of Cuba since 1990. The largest sectors receiving foreign investment were reported to be: Telecommunications with US$650 million; Mining with US$350 million; and Tourism with US$200 million.

Chart follows of foreign investment, announced and committed/delivered. Canada has tons invested, for example. Canada, announced 1,807,000,000.00 committed/delivered 600,000,000.00*

-- Michael Pugliese



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