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'Cuba Is Opening Up.' Reforms Begin as US Tightens Grip
The measures would let private Cuban firms import and export directly and ease rules for foreign investors, part of 176 approved reforms.
Summary by BizToc
Cuba is preparing to loosen some of the tightest controls over its communist economy, allowing private companies to trade directly with foreign businesses, giving foreign investors greater freedom to hire workers and expanding their ability to develop real estate on the island.
Cuba is expanding autonomy for private businesses and establishing new trade regulations to revive its struggling economy. Cuba is also promoting tourism in South America. The number of small, medium, and micro-enterprises in Cuba has surged, exceeding 15,600. Cuba is implementing measures to promote electronic payments.