Call this the ultimate audacity of hope. Or the ultimate scam.
As the economy of its Venezuelan colony continues to tank, the Castro regime is intensifying its efforts to lure more foreigners into “investing” in Cuba. Yeah, they actually call it “investing.”
Ask Canadian businessman Cy Tokmakjian what it’s like to “invest” in the Castro Kingdom.
The Castro Mafia is getting desperate. And today’s election news from the U.S.A. probably made them even more desperate. Now that the Republicans control the Senate as well as the House of Representatives, the chances of lifting the so-called embargo have become more remote than ever. So, now that they can’t count on tricking American businesses and farmers, they know their only chance to stay afloat is to trick the rest of the world.
Given their track record, however, don’t discount the possibility of success. They’ve tricked many in the past. They will surely trick others now and in the future.
Never underestimate the allure of cheap slave labor to potential investors.
From AP via ABC (U.S.):
Castro regime Seeks Over $8 Billion in Foreign Investment
Cuba asked international companies on Monday to invest more than $8 billion in the island as it attempts to kick-start a centrally planned economy starved for cash and hamstrung by inefficiency.
Foreign Commerce Minister Rodrigo Malmierca Diaz announced a list of 246 potential projects that would cost $8.7 billion to build, from a pig farm to an auto plant. The menu of possible investments is a key step in a push for foreign capital that includes the relaxation of investment restrictions and the creation of a special trade zone around a new deep-water port west of Havana.
“Cuba is pushing strongly to take advantage of the benefits associated with foreign investment to stimulate development,” Malmierca said.
Despite the push, foreigners at Havana’s International Fair, the country’s main economic promotional event, described Cuba as a place that still makes investors deeply nervous. Many basic supplies are lacking and simple decisions take weeks or months for approval from overlapping government agencies.
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