Cuba will allow nationals living abroad to invest in and own businesses on the island, economic czar tells NBC News

[BumRushDaShow]

Source: NBC News

March 16, 2026, 7:20 AM EDT / Updated March 16, 2026, 9:20 AM EDT


HAVANA — Cuban nationals living abroad in places such as Miami will be allowed to invest in the private sector and own businesses in their homeland, the country's economic czar has told NBC News in an exclusive interview.

Oscar Pérez-Oliva Fraga, Cuba's deputy prime minister, said that a "blockade" by the United States is hampering these efforts as the island grapples with an energy crisis, rare violent protests and public pressure from the Trump administration.

“Cuba is open to having a fluid commercial relationship with U.S. companies" and "also with Cubans residing in the United States and their descendants," Fraga said in a sit-down in Havana, ahead of announcing the news to his country Monday night.

The interview, his first, comes as Fraga tries to breathe life into Cuba's ailing economy with a series of economic reforms aimed at creating what he called a “dynamic business environment.” The aim would be to revive a range of sectors, from tourism and mining to fixing and updating the antiquated power grid.

Read more: https://www.nbcnews.com/world/cuba/cuba-allow-nationals-living-abroad-invest-businesses-island-economy-rcna263637

[James48]

1. Good luck.

Once the greedy rich get in, they’ll try and take everything.

Good luck.

[BumRushDaShow]

2. I expect they know that

There are a lot of old-tmers who remember what happened "before", but then they also know that in order to have all those "luxury" resorts and casinos, the developers will need to pay to fix the power grid and transportation infrastructure first.

[DFW]

3. Be careful what you wish for, since you might get it.

The Cuban government should restrict this offer to people who are still Cuban citizens. The last thing they need is to have a team of Marco Rubio exile US-born clones swarming down there building up pristine coastlines with McHotels and fast food chains with no respect for the nature they will be destroying, profiting from the venture without setting foot on the island, and without having the slightest sense of responsibility toward the people that will be affected. A few will profit enormously, and the rest will be priced out of their neighborhoods, like Hawai'i and Nantucket. If they allow that to happen, they might as well hold elections to determine who will be the next Fidel.

[flamingdem]

5. I don't think that we'll see Havana turn into Nantucket lol!

Havana is populated by the very poor and many buildings are dilapidated.

I hope they can get them into decent repair. That would be a good start.

Mass tourism will take a decade. Home ownership will be very fraught.

[DFW]

7. I haven't been there in 40 years

But the state of the buildings downtown, if there hasn’t been a massive urban renewal, was rather dismal, even the inner offices of their central bank, which was probably Soviet Modern of the day.

The cars the government was driving me around in were all Soviet, as well, and they did not exactly inspire a sense of safety. Still, to be cleared to be one of their drivers, one probably needed a spotless safety record, so I never really worried about that.

[flamingdem]

4. I bet that Cuban in Miami don't want to spend their own money

Somehow this will be turned into a cash grab with US taxpayers footing the bill.

Plus, it's a major disaster that will require many, many billions. It's not the place
for pet projects with the infrastructure falling apart.

[fujiyamasan]

6. Yep, it'll take years of investment

I went there 8 years ago. It’s a beautiful country. People are friendly and we felt totally safe. I’d imagine the state is a lot worse now. We were there after Obama had opened things up, and just before Trump tightened things up again.

But the infrastructure is in really bad shape. US policy toward Cuba has always been one of the stupidest imaginable. Trump obviously just wants another branded property in Havana.