Cuba publishes text of foreign investment law
Cuba publishes text of foreign investment law
By ANDREA RODRIGUEZ, Associated Press | April 16, 2014 | Updated: April 16, 2014 5:09pm
HAVANA (AP) — Cuba on Wednesday published the full language of a new law that seeks to make it more attractive for foreign investors to bring badly needed capital to the island, but provides less advantage for projects that are 100 percent foreign-financed.
The law was approved by parliament and its broad outlines were aired in state media, and the text is now publicly available after being published in the government's Official Gazette.
Havana is betting that the measure will make the country more attractive to the business community and bring in more foreign investment, which has been flat including in the years since President Raul Castro began a program of economic reforms.
The measure, which takes effect in late June, includes tax breaks for new investments and property guarantees for investors. It also outlines arbitration procedures and labor rules for foreign-financed projects.
More:
http://www.chron.com/news/world/article/Cuba-publishes-text-of-foreign-investment-law-5407214.php
