The Cuban Minister of Foreign Trade, Óscar Pérez-Oliva, said that the communist regime will begin to implement measures aimed at allowing greater openness to investment for the private sector, in a kind of “Perestroika” that the USSR applied prior to its definitive collapse.
The initiative seeks to promote investment both by Cuban citizens resident abroad and by American companies, in an attempt to alleviate the deep economic and energy crisis that has affected the island for several years.
These new policies come amid strong pressure from U.S. President Donald Trump, who seeks to promote changes within the regime and the island's failed economic system.
Within this framework, the minister confirmed that he is studying the possibility of allowing the usufruct of productive land and allowing Cubans who do not reside in the country to open bank accounts in foreign currencies.
These measures could facilitate the development of small private businesses within a system that has historically maintained strong state controls over economic activity.
The central objective of these reforms also aims to reactivate strategic sectors that have undergone significant deterioration in recent years.
These include transportation, electrical grids and other areas considered to be priorities to promote a possible economic recovery.
