- Cuba is going through the toughest economic crisis currently
- COVID-19 and US Embargo are the main reason for the economic hardship in Cuba
- Once Cuba and the US reopen for a better relationship, US investments in Cuba will be a win/win for both countries and companies.
Cuba is going through a brutal recession with its economy missing out on much-needed tourism dollars this year.
US embargo and COVID-19 challenges are the prime reason for the economic disaster this Caribbean Island Republic is sailing through.
The country may also be trying to work towards liberalizing trade with a new US administration in power, hoping the US will end its embargo of the island.
Labor and Society Security Minister Marta Elena Feitó said a current list of 127 permitted private enterprises will be expanded to include more than 2,000, according to a report in the local newspaper Granma.
There were no details of which fields would remain closed but just 124 would be “totally or partially” limited, likely in media, health and defense.
11 million well educated Cubans are waiting for an opportunity of prosperity. With less than 100 miles off the US Coast, investment opportunities in Cuba may be the greatest seen for US companies in a long time.
A taste was seen when major US companies competed with investment offers after the Obama administration re-established diplomatic relations. Such opportunities were later killed by the Trump government.