Subscribers

US companies face catch-up game if Cuba sanctions are cut

Investment potential for American businesses includes technology, oil exploration and tourism

Havana

WHILE international rivals have a clear head start in Cuba, American companies could catch up quickly if the economic embargo that has kept them away is dismantled in a new era of cooperation between Washington and Havana.

Cuba's inhospitable regulatory environment under communist rule has made doing business difficult and costly for foreign businesses, limiting investment.

The domestic economy is also small with low salaries severely limiting retail businesses and inefficient state-run companies a drag on productivity and growth.

Nevertheless, hotel companies such as Spain's Melia Hotels International and France's Accor, Canadian miner Sherritt International Corp, Britain's Imperial Tobacco...

KEYWORDS IN THIS ARTICLE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes