Cuba Ready to Accept Outside Investment, Top Official Says

Cuba's deputy prime minister announced that the country will allow Cuban expatriates to own businesses on the island and invest in infrastructure, marking a significant shift in the communist nation's economic policy. The announcement, set to be formally made on Monday, represents a notable opening in Cuba's historically restrictive approach to private enterprise and foreign investment. This move could provide crucial capital to Cuba's struggling economy, which has faced severe shortages of food, medicine, and basic goods amid ongoing U.S. sanctions and the aftermath of the COVID-19 pandemic. The policy change specifically targets the Cuban diaspora, potentially tapping into the resources of millions of Cubans living abroad, particularly in the United States. The development signals Cuba's growing willingness to embrace market-oriented reforms as it seeks to revive its economy without abandoning its socialist system.