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Cuba: obstacle course for foreign investors

Foreign investors still face an obstacle course in Cuba despite the passage of a new, more liberal law aimed at attracting capital from outside the communist-ruled island. Cuba's National Assembly unanimously approved the law on Saturday, offering tax and other incentives to foreign investors, who are seen as crucial to reviving the country's stagnant economy. But even as he pitched the new law, Foreign Trade and Investment Minister Rodrigo Malmierca acknowledged to lawmakers many impediments to foreign investment remain.

Cuban opposition group says political arrests declined in March

Havana, Apr 1 (EFE).- The opposition Cuban Commission for Human Rights and National Reconciliation reported Tuesday a decline in the number of political arrests in March compared with earlier months, a situation it attributed to the Communist government's interest in showing "a better image" with an eye toward its talks with the European Union. In its monthly report, the commission reported slightly more than 800 "arbitrary arrests for political motives" during March, a lower figure than the more than 1,000 per month in December, January and February.

Cuba passes law to lure foreign investment

Cuba's parliament unanimously approved a new law on foreign investment Saturday aimed at boosting sputtering economic growth on the communist-ruled island. President Raul Castro, who was scheduled to speak to the assembly, has called the bill "crucial" to the Cuban economy, which has so far failed to show gains from his gradual reforms of the Soviet-style system. The new legislation will go into effect 90 days after it is published.

Cuba passes law to lure foreign investment

Cuba's parliament unanimously approved a new law on foreign investment Saturday aimed at boosting sputtering economic growth on the communist-ruled island. President Raul Castro, who was scheduled to speak to the assembly, has called the bill "crucial" to the Cuban economy, which has so far failed to show gains from his gradual reforms of the Soviet-style system. The new legislation will go into effect 90 days after it is published.

Analysts: foreign investment law on verge of being enacted is vital for Cuba's economy

HAVANA - Cuban authorities are on the verge of enacting a new foreign investment law considered one of the most vital building blocks of President Raul Castro's effort to reform the country's struggling economy. The law is considered so important that an extraordinary session of parliament has been scheduled for Saturday so the matter doesn't wait several months until the regular summer session.

Cuba to allow foreign investment in all sectors but health, education

Havana, Mar 26 (EFE).- Communist Cuba will allow foreign investment in all sectors except education, health and "armed institutions" and offer tax exemptions to overseas companies, the official daily Juventud Rebelde reported Wednesday, disclosing details of a bill proposed by Raul Castro's government. The new legislation "aims to provide foreign investors with full protection and legal certainty," guaranteeing that their investments "will not be expropriated except for reasons of public or social interest previously declared by the Council of Ministers," the newspaper said.

Cuba to allow foreign investment in all sectors but health, education

Havana, Mar 26 (EFE).- Communist Cuba will allow foreign investment in all sectors except education, health and "armed institutions" and offer tax exemptions to overseas companies, the official daily Juventud Rebelde reported Wednesday, disclosing details of a bill proposed by Raul Castro's government. The new legislation "aims to provide foreign investors with full protection and legal certainty," guaranteeing that their investments "will not be expropriated except for reasons of public or social interest previously declared by the Council of Ministers," the newspaper said.

CARICOM again urges U.S. to end Cuban embargo

Georgetown, Guyana, Mar 25 (EFE).- The Caribbean Community on Tuesday renewed its call for an end to the United States' five-decade-old trade embargo against Cuba. "CARICOM knows well the value of unity on the international front given that coordination of foreign policy is one of the pillars of our integration movement," Secretary-General Irwin LaRocque said as he accepted the credentials of Cuba's new envoy to the regional grouping, Julio Cesar Gonzalez Marchante.

Cuba gives doctors big pay raise -- to $64 a month

Cuba's doctors got a big pay raise Friday -- to 64 dollars a month, the official Communist Party newspaper Granma said. The hike in pay from $25 a month was to reward health professionals for being the country's top source of hard currency export earnings. President Raul Castro last month rejected pay increases for other state workers, but said they were justified for doctors, dentists and nurses "because at the moment the country's main income is due to the work of thousands of doctors overseas."

New law to create investment-friendly Cuba

Foreign investors will be able to do business in communist Cuba without fear of government interference once a new law is approved later this month, a top lawmaker told state media on Monday. The lawmaker tasked with overseeing the drafting of the new investment law said in the official Granma newspaper that the new legislation would usher in a business-friendly climate in this bastion of communism. The law will "work to strengthen guarantees to investors," said Jose Luis Toledo, head of the legal affairs committee in Cuba's National Assembly.
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