Cuba Lagging on its Foreign Investment Ambitions

Cuba is failing to meet its self-imposed foreign investment targets, officials said Tuesday. The country’s Foreign Commerce Minister Rodrigo Malmierca said that Cuba has approved 83 foreign investment …

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Cuba is failing to meet its self-imposed foreign investment targets, officials said Tuesday.

The country’s Foreign Commerce Minister Rodrigo Malmierca said that Cuba has approved 83 foreign investment projects worth more than $1.5 billion since March 2014.

This places the nation’s foreign investment at about a third of the annual flow required to meet its goal of attracting $2 billion a year.

Many of the 83 projects are still in very early stages or have yet to begin construction, so even $2 billion might be optimistic.

“We aren’t advancing at the rhythm that we want,” Malmierca said. “We need to keep working hard for deals to become reality without problems, without unnecessary delays.”

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