Cuba details business reforms opening private firms to foreign investment
Cuba's government has detailed business reforms that will allow private companies to receive foreign investment. The steps aim to revive an economy struggling with a shortage of foreign currency. Officials hope the rules will attract fresh capital to the private sector.
Cuba's government has announced details of new rules allowing private companies in the country to receive capital from foreign investors. The move is seen as a significant opening for a private sector that has grown in recent years.
According to officials, the reforms aim to bring fresh resources to an economy strained by a shortage of foreign currency and low output. The rules also set out which sectors will be allowed to take on foreign partners.
Economists say the step is a positive direction but that winning investor confidence will take time. The details of implementation and how the bureaucratic processes work will determine the reform's success.
Read next
Chemical weapons watchdog restores Syria's voting rights, citing progress
The Organisation for the Prohibition of Chemical Weapons (OPCW) said it has restored Syria's voting rights within the body, citing a significant change in circumstances under the country's new leadership's efforts to address chemical weapons issues.
Ship traffic through Hormuz Strait plunges after new strikes
Modi tells Melbourne crowd India aspires to 'grow more, achieve more'
Asia's growth outlook improves but ADB warns of persistent headwinds
