Cuba’s New Laws Will Be More Friendly to Foreign InvestorsMarch 8, 2015 – In The News
Raúl J. Valdés-Fauli was featured in the Global Ag Investing article, “Cuba's New Laws Will Be More Friendly to Foreign Investors.” Full text can be found in the March 8, 2015, issue, but a synopsis is noted below.
Investors are flocking to Cuba for numerous profitable opportunities in sectors like agriculture, tourism and medicine. “A Spanish company has a chain of hotels," said Fox Rothschild’s Raúl Valdés-Fauli. "There's a French fishing company. The Brits are there. The Israeli's have one of the biggest citrus companies. It's only the United States that doesn't invest in Cuba.”
Although Cuba currently has legislation that puts restrictions on foreign investments, they are now awaiting the expected approval of new legislation, which would eliminate many of these restrictions. Meanwhile, Valdés-Fauli says, “Foreign companies can and do invest in Cuba.”
However, Valdés-Fauli elaborates, saying that the U.S.Helms-Burton Act of 1996, which increased the embargo against Cuba is the only real obstacle. If the relationship between the U.S. and Cuba continues to grow fonder, foreign investment is expected to occur.
Valdés-Fauli believes that investing in Cuba would be very beneficial for the U.S., calling it “virgin territory." He continued on to say that, "More than 50 years of the U.S. embargo on Cuba hasn't worked. The Obama administration wants to try something different.”