At the 41st Havana International Fair (FIHAV 2025), the Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment, Óscar Pérez-Oliva Fraga, acknowledged the financial difficulties facing Cuba — aggravated by the embargo and the energy crisis — but stated that the Government seeks to “modernise the economy” by offering a more dynamic, transparent environment with new facilities for investors.
In this context, he announced a set of measures aimed at boosting foreign investment in Cuba through expanded operational capacities and streamlined procedures.
Some of the actions outlined only require adjustments to administrative policies and practices, but others will depend on regulatory amendments expected in the coming months. In particular, the replacement of Decree 325/2014, the current Regulation of the Foreign Investment Law, was announced, as well as an update to the Regulation of the Foreign Investment Business Evaluation Commission. However, MINCEX authorities later clarified that a draft new Foreign Investment Law is expected to be submitted to the Cuban Parliament in December 2026, pointing to deeper structural changes in Cuba’s foreign investment regime.
Main measures and incentives announced
Monetary flexibility and greater autonomy
A new financial scheme will be established granting greater autonomy to foreign-invested companies, allowing them to operate in both local currency and foreign currency according to their needs. In addition, the opening and use of foreign bank accounts will be made more flexible for external revenues obtained through exports or domestic market segments that generate foreign currency.
The treatment of foreign-capital businesses within the national economic plan will also be modified, with the State budget considering only the dividends attributable to the Cuban partner and the foreign currency income of related Cuban entities, thereby granting greater operational autonomy to these businesses.
Administrative efficiency: simplification of procedures
Notably, “feasibility studies” will be replaced by “business plans” as a requirement for project submission. In addition, regarding the functioning of the Business Evaluation Commission, shorter assessment deadlines are envisaged, as well as the application of the principle of “positive administrative silence”, meaning tacit approval if no response is issued within the established timeframe.
Corporate documentation requirements will also be simplified, with foreign investors only required to provide essential information regarding incorporation and legal status, unless the complexity of the business model requires additional documentation. Furthermore, valuations of state assets involved in investments will remain valid for more than one year, facilitating the transfer of rights.
New tourism, financial and real estate modalities
Companies leasing tourism facilities will be automatically authorised as fully foreign-owned entities, allowing them to begin operations within 60 days of being awarded the contract.
Investment will also be promoted in the financial and banking sectors, as well as in the use of underutilised national assets and production facilities. Selective “swap” operations will be enabled to restructure obligations and generate foreign currency income, allowing creditors to develop business activities linked to specific assets with medium- and long-term sustainability prospects.
In addition, the creation of new special development zones is planned, with more flexible regimes for specific activities such as real estate and technology parks.
Labour and direct commercialisation flexibility
Particularly notable was the announcement that foreign companies may have greater discretion in hiring workers. However, according to subsequent clarification from authorities, recruitment will still, for the time being, be carried out through employment agencies. Only exceptionally and progressively will direct hiring arrangements with foreign investors be assessed. The possibility of paying performance-based bonuses in foreign currency to contracted workers was also highlighted, provided these are financed from dividends and processed through the banking system.
Companies will also be allowed to wholesale their production to other economic actors (state or non-state) without restrictions, opening up domestic supply and distribution markets.
Fuel access and direct imports when necessary
Foreign-invested companies will be able to purchase fuel in foreign currency and even import it directly when required, a particularly relevant measure in light of the island’s energy crisis.
Equal treatment for the Cuban diaspora
The incentives and facilities announced will also apply — “implicitly”, according to the Minister — to Cubans residing abroad who wish to invest in the country, without discrimination.
Updated Investment Portfolio
An updated investment portfolio comprising 426 projects was presented, valued at over USD 30 billion, focused on strategic sectors such as food production, industry, tourism, and energy (with emphasis on oil exploration and extraction).
Of these, 83 projects are considered high priority, and 38 originate from local initiatives, suggesting increased openness to decentralised collaboration.
As can be seen, these measures represent a significant step forward in promoting foreign investment in Cuba. Their real impact, however, will depend on the practical and regulatory implementation of the announced decisions.
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