Cuban Regime Wants Diaspora to Own Businesses on the Island

In a diplomatic overture, the Communist regime is aiming to open up its moribund economy to the affluent Cuban-American diaspora

By Deborah Acosta, Vera Bergengruen and José de Córdoba of The WSJ. Excerpts:

"Cuba’s communist regime wants to open up its moribund economy to the Cuban-American diaspora, allowing foreign-based entrepreneurs to open up businesses and buy property"

"the government is open to having a fluid commercial relationship “with Cubans residing in the United States and their descendants.”"

"also open to having a relationship with U.S. companies. He said Cuba wants to energize sectors of the Cuban economy ranging from real estate to tourism and infrastructure."

"Under Cuba’s current law, Cuban-Americans can invest in the island only if they re-establish residency in Cuba, which leaves them at the mercy of a totalitarian regime. Removing this and other hurdles could transform the diaspora into a recognized foreign investor class."