FT: Cuba's Decommunization Has Begun

Havana is radically opening up its market to investment and reform.

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Cuba is officially embarking on a large-scale liberalization of its economy. The country is forced to make concessions due to intense pressure and threats from Donald Trump.

This was reported by the Financial Times.

In keeping with tradition, the Cuban Parliament unanimously supported these changes. Now, private business will receive an incentive to grow.

Havana plans to actively attract foreign investment. This is a radical step, as the country has adhered to a planned economy model for years. Threats from U.S. President Donald Trump forced the communist leadership to act quickly.

President Miguel Díaz-Canel compared this path to the experiences of Vietnam and China. These countries were able to maintain communist rule while opening up their markets. The Island of Freedom is now trying to follow this path.

“For Cubans living abroad who wish to invest, make donations, import technology, open up the market, or carry out projects in their homeland, we will offer a clear, stable, and respectful system,” Cuban President Miguel Díaz-Canel commented on the reforms.

Key changes in Cuba’s economy:

Full legalization and expansion of private property.

Creation of preferential conditions for foreign capital.

Simplification of the import of modern technologies.

Focus on the Cuban diaspora as the main investor.

The President of Cuba explicitly states that there is no consensus on certain points. But there is no other way out—the economy must be saved now.

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