[Marxism] Cuba to open new stage in foreign investment

Walter Lippmann walterlx at earthlink.net
Mon Oct 1 09:14:49 MDT 2007

Cuba really wants and needs and end to the U-S.-imposed blockade,
and if the blockade is ended something short of a revolutionary
transformation of the United States from capitalism to socialism,
there will be even MORE foreign investment than there is today.

It's probably time for a bit of independent worrying about this by
the foreign critics who complain about Cuba's programs of tourism 
and investments...<g> Some people would rather that Cuba be poor,
but at least pure. Such people generally don't tend to live on
the island, and don't have to live with the consequences of the
opinions which they express so very emphatically. Yes, investment
brings problems and contradictions, but, short of revolutions in
other countries - the critics provide no practical alternatives
to fund the many things which the Cuban revolution must conduct
to keep the home fires burning.

Walter Lippmann
Los Angeles, California

Cuba to open new stage in foreign investment
Submitted by Tarique on Mon, 10/01/2007 - 11:01.


Havana : In what may be seen as an attempt to open up its economy,
Cuba is preparing to invite more foreign investment in a "new
climate" in the country and to prevent errors committed in the past,
Foreign Investment Minister Marta Lomas said.

"There's a new climate for investment, the consolidation of the
economy is a fact. We've had years with sustained growth of the
economy and that allows there to be a new climate for doing new
things," Spanish news agency EFE quoted Lomas as saying.

Cuba opened itself to foreign investment at the beginning of the
1990s, during the so-called "special period," to salvage itself form
an economic crisis resulting from the fall of the Soviet bloc.

Almost 20 years later, "we're in a situation of maturation of foreign
investment.... We're in a condition to expand without committing the
errors of the early years (made) in ignorance and because of economic
necessity," the minister said.

In a speech to commemorate the Cuban Revolution Day on July 26,
interim President Raul Castro emphasized the need to increase
production and reduce imports, and expressed readiness to open up new
areas to foreign investment.

Tourism is one area the government is looking forward to with
increased foreign investment, Lomas said, although "we're studying
main sectors of the economy" to identify priorities.

The minister said the recently concluded Hispanic-Cuban Business
Committee meeting ended on an upbeat note and that the leaders agreed
to more talks next year to identify possible investment projects.

Cuba and Spain signed an agreement Saturday re-establishing the
cooperation programmes suspended four years ago in the wake of a
crackdown by Havana on dissidents.

At the end of 2006, according to official estimates, Cuba had 236
foreign and mixed firms operating on the island the business volume
of which exceeded $3 billion annually.

Editor-in-Chief, CubaNews
writer - photographer - activist

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