Cuba seeks foreign investment, thumbing nose at US sanctions

  • 📰 Reuters
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Cuba hosted a business fair with over 800 companies from more than 60 countries on Monday as it lobbied for new investments, thumbing its nose at U.S. sanctions that have long spooked foreign companies from engaging with the communist-run island.

Cuba blames the Cold War-era U.S. trade embargo and the COVID pandemic for crippling tourism and domestic industry, wiping out the cash it needs to import basic goods and making foreign investment ever more important.

Cuban president Miguel Diaz-Canel told attendees "massive" participation at the fair this year was proof of business confidence in Cuba. Jay Brickman, a vice president at the Crowley shipping and logistics company, said emphasis on private business marked a major shift.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analyst calls: All the market-moving chatter from Wall Street on Monday morningThe new kicked off with a downgrade to the world's largest lithium producer and an upgrade to one of the best-known car brands in the world.
Source: CNBC - 🏆 12. / 72 Read more »