The recent announcements by the Cuban government regarding foreign investment and the recognition of the economic role of Cubans living abroad represent, without question, a step in the right direction. For many years, I have advocated publicly for this recognition and for the full inclusion of the Cuban diaspora in the country’s economic life. Although these measures remain insufficient, they open a door that had been closed for decades and mark an important and long-awaited shift.
It is encouraging to see intentions to simplify procedures, grant employers more autonomy in hiring, allow bonuses in foreign currency, expand access to essential inputs such as fuel, and establish more agile and predictable timelines for project approvals. In principle, these changes could contribute to a more dynamic, efficient, and less bureaucratic environment for those who wish to invest and operate in Cuba.
However, the real impact of these measures will depend entirely on their implementation. Experience has shown us that many promising reforms have remained on paper due to inconsistencies between what is announced and what is executed. Cuba must move toward a regulatory framework that is stable, transparent, and predictable—one that provides true legal certainty and confidence to investors, entrepreneurs, and international partners. Without these fundamental guarantees, no reform can achieve sustainable results.
I am also concerned about structural obstacles that continue to undermine confidence in the investment climate. Cuba must eliminate excessive and outdated bureaucratic processes that delay, distort, or increase the cost of any initiative. But beyond bureaucracy, it is essential to confront corruption, nepotism, favoritism, and other discretionary practices that generate inequity, uncertainty, and a perception of arbitrariness. Equal rules and fair opportunities must be guiding principles in any serious development strategy.
In this regard, Cuba must advance toward greater operational and managerial independence for companies, freeing them from unnecessary administrative controls and allowing them to make decisions based on technical, commercial, and efficiency-driven criteria. A modern economy requires enterprises with real autonomy, the capacity to innovate, to compete, and to assume direct responsibility for their results.
The Cuban private sector—particularly the MIPYMES—has already demonstrated remarkable resilience, dynamism, and success, even under adverse conditions and in the face of significant obstacles. Despite limited access to inputs, regulatory instability, financial constraints, and operational challenges, this sector has grown, adapted, and supported thousands of Cuban families. If given clear rules, proper conditions, and an environment truly conducive to its development, the potential and positive impact of the Cuban private sector would be impossible to predict. Its capacity is immense, and what we have seen so far is only the beginning.
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Within this context, it is crucial to recognize that the Cuban diaspora—because of its investment capacity, business experience, international reach, and emotional connection to the island—may very well become the most important economic actor in Cuba’s transformation in the short and medium term. Cuban entrepreneurs abroad already finance, sustain, and drive a significant portion of the private initiatives emerging on the island, and their participation will continue to grow as clearer and safer opportunities appear. No other actor combines capital, global experience, and a natural commitment to the country in the way the diaspora does.
Integrating the diaspora fully and without reservations is not merely a political gesture; it is an economic imperative. Their capital, networks, know-how, and global perspective could become essential engines for economic recovery if the right conditions are created.
Furthermore, economic progress will depend on the development of a legal framework that protects investments, guarantees contracts, establishes reliable dispute-resolution mechanisms, and provides access to a functional and stable financial system. International investors, local entrepreneurs, and the diaspora alike need clear assurances that their projects and capital will be respected and safeguarded.
In summary, I welcome this first step. It is positive, necessary, and encouraging. But there is still a long road ahead before Cuba can achieve a modern, competitive investment environment aligned with international standards. What happens next—the implementation, the consistency, and the political will to transform structural realities—will ultimately determine the true significance and sustainability of these announcements.
