Cuba Opens Private-Sector Investment to Nationals Abroad, Deputy Prime Minister Perez-Oliva Fraga Says

Cuba is preparing to allow Cuban nationals living abroad, particularly those in the United States, to invest in private businesses on the island.

“The Cuban government will allow its citizens living abroad to invest in private companies on the island, an economic reform with a political nod amid Havana's talks with Washington”

ABC

This marks a significant policy shift announced by Deputy Prime Minister Oscar Pérez-Oliva Fraga in an exclusive interview with NBC News.

ABC

The opening represents a departure from decades of restrictions that largely barred Cubans abroad from directly investing in enterprises on the island.

Fraga, who also serves as Cuba's minister of foreign trade and investment, stated Cuba is open to having a 'fluid commercial relationship' with both U.S. companies and Cuban residents abroad.

The announcement comes as Cuba increasingly looks to the private sector to stabilize its economy amidst unprecedented challenges.

The reforms may legalize what has already been happening quietly as many private businesses on the island are financed with capital from relatives in Miami.

The proposed economic opening comes amid Cuba's severe economic crisis characterized by frequent blackouts, shortages of fuel, food, and medicine.

Cuban officials attribute these difficulties largely to the United States' long-standing embargo and recent intensified measures.

BFM BUSINESS

Cuba refers to the situation as an 'energy blockade' that has prevented fuel shipments from reaching the island.

According to Cuban authorities, no petroleum shipments have arrived in Cuba in the past three months.

The U.S. has implemented an oil blockade and tariffs on countries that supply crude to Cuba.

President Miguel Díaz-Canel stated the energy crisis 'is not attributable to the government, but to the energy blockade imposed by the United States.'

The Trump administration has intensified pressure on Cuba, with President Trump warning that the communist country could face a similar fate to Venezuela's Nicolás Maduro.

“Watch CBS News ©2026 CBS Broadcasting Inc”

CBS News

Trump has repeatedly suggested that Cuba 'is going to fall pretty soon' unless it makes a deal with him.

He has even hinted at performing a 'friendly takeover' of the island nation, stating 'I think we will pretty soon either make a deal or do whatever we have to do.'

The administration's pressure tactics have included cutting off oil supplies to Cuba and implementing additional economic measures.

This follows the pattern seen with Venezuela where Maduro was captured in an American raid on Caracas in early January.

The Cuban government has confirmed for the first time that it is holding talks with the Trump administration.

This backdrop of heightened tensions and U.S. pressure has created the context for Cuba's economic opening proposal.

The proposed reforms would allow Cuban nationals abroad to invest in and potentially own private enterprises through Cuba's framework of micro, small, and medium-sized enterprises (MSMEs).

This represents a significant expansion of Cuba's private sector development strategy that has gradually evolved over recent years.

Cuba Headlines

According to Cuban officials, the new policy goes 'beyond the commercial sphere' and will also allow large investments in infrastructure in priority sectors.

These priority sectors include tourism, mining, and energy modernization.

Fraga emphasized the goal is to create a 'dynamic business environment' despite U.S. restrictions.

He stated that 'The blockade deprives us of access to financing, access to technology, access to markets, and in recent years, it has specifically been aimed at depriving our country of access to fuel.'

The reforms would likely address the issue of Cuban exiles who lost property rights when they left before 2013.

Despite the promising nature of the economic opening, significant challenges and hurdles remain for implementation.

“Cuba will allow Cuban citizens abroad to invest in the island's private sector, according to an announcement by Oscar Pérez-Oliva, the regime's deputy prime minister and minister of Foreign Trade and Foreign Investment, in an interview published this Monday by NBC, the American channel”

Infobae

Cuban officials have acknowledged that previous approved reforms have sometimes taken months or even years to fully implement due to Cuba's highly bureaucratic system.

Infobae

The Miami Herald reports that a source 'expressed doubts that the government will quickly implement everything that it has already approved behind closed doors.'

There are concerns about political opposition to economic opening without corresponding political changes.

Miami U.S. Rep. has stated there is 'NOTHING the regime has that the United States wants,' suggesting opposition from local Republican officials.

Many Cuban exile organizations in Miami have stressed they would not accept anything short of a democratic transition in Cuba.

These complexities suggest that while the announcement represents a significant policy shift, implementation will depend on overcoming bureaucratic obstacles and navigating political dynamics.