Havana, November 26, 2025 - The Cuban government presented a series of reforms on Tuesday aimed at creating a more dynamic business environment for foreign investment, as part of a comprehensive program to correct distortions and revitalize the national economy.
The measures, announced by Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment, Oscar Pérez-Oliva Fraga, during the 8th Investment Forum held as part of the 41st Havana International Fair (FIHAV 2025), include greater monetary flexibility, simplified procedures, faster processing times, and new operating models.
Key Measures for a New Investment Environment and Main Changes
Monetary Flexibility: Operations in local currency and foreign currency as needed; more competitive foreign exchange rates; foreign bank accounts for companies.
Simplified Procedures: Replacement of the feasibility study with a business plan; reduction of the evaluation period from 15 to 7 days; implementation of "positive silence" (tacit approval).
Labor Flexibility: The investor has the final decision in the selection of their workforce, either directly or through an employment agency; possibility of paying bonuses in foreign currency to workers linked to the project through bank transfers, provided the company generates external income.
New Business Models: Unrestricted wholesale marketing; direct access to fuel in foreign currency or imports; use of underutilized production facilities.
Priority Sectors: Focus on food production, industry, tourism, energy (oil exploration), and the knowledge economy.
Operational and Financial Incentives
Pérez-Oliva Fraga explained that a differentiated system will be established allowing foreign companies to operate, according to their needs, in both national currency and foreign currency, linked to the process of partial dollarization of the economy.
In the operational sphere, it was confirmed that any foreign investment can market its products wholesale to any national economic actor with the capacity to pay, without restrictions. Likewise, companies will have unrestricted access to purchasing fuel in foreign currency, and may import it directly if it is unavailable.
Commitment to Strategic Sectors and Cubans Abroad
The head of MINCEX reiterated the priority focus on food production and the knowledge economy, highlighting Vietnamese rice production companies as a successful example.
He affirmed that Cubans residing abroad have the same rights and opportunities as any foreign investor to conduct business on the island, with all the new measures being applied without "any kind of difference or obstacle."
Legal Framework and Perspectives
The Deputy Prime Minister emphasized that "none of these proposals contradict the Constitution of the Republic of Cuba," and that "decisions can be made without any difficulty under this framework."
As a complement to these measures, an updated portfolio of investment opportunities was presented, comprising 426 projects exceeding US$30 billion, distributed across 13 sectors and all provinces of the country.
These decisions represent the Cuban government's effort to offer "simpler, more agile, and more transparent" processes to investors, with the stated objective of ensuring that all forms of economic management function "harmoniously" and contribute to national development goals.
(Cubaminrex - With information from Cubadebate)
SOURCE