Catch up locals' news in English
2022-08-17T03:46:27.982Z
For the first time in 60 years, the Cuban government is allowing foreign investment. Cuba's government is opening up foreign investment in the wholesale and retail trade for the first time in 60 years. The measure is an attempt to deal with the lack of goods in the country, and help local businesses. Wholesalers must be able to be wholly owned from abroad, while retailers in the retail trade can form jointly owned companies between the private and public sector. Previously, fore
Cuba's government is opening up foreign investment in the wholesale and retail trade for the first time in 60 years.
The measure is an attempt to deal with the lack of goods in the country, and help local businesses.
Wholesalers must be able to be wholly owned from abroad, while retailers in the retail trade can form jointly owned companies between the private and public sector.
Previously, foreign investment was only allowed in domestic production and in the service sector.
(TT)
Source: svt
