Hot off the presses — law on foreign investment

Cuba’s Law on Foreign Investment — Law No. 118 — was published this morning in a special edition of the nation’s Official Gazette, the daily Granma reported today (April 16).

“Law 118 supports the decision of conceiving foreign investment as a source development in those activities that are of interest for the nation and, in specific sectors and economic activities, is considered an active and fundamental element, corresponding to the projections of economic and social development in the short, medium and long ranges,” Granma says.

Law No. 118 was approved on March 29 by the National Assembly.

For background, click here.

For a Progreso Weekly article on how the law affects Cuban-Americans, click here.

To read the entire document, in Spanish, as published in Granma, click here.