Thomas Piketty will want to hide his eyes from this, but
the Castros want some of that r>g cheese;
Cuba asked international firms 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.
We hate to quibble, but maybe incentives matter to investors;
“Many people complain about the time in which we do things, but
everyone’s got their own pace,” Malmierca said. “We’re going to do this
our way and we want to do it well.”
Or, you won't be doing it at all, Rodrigo;
Apart from the slow pace of
doing business, foreign executives complained they have to hire Cuban
employees through a state agency, limiting their ability to directly
choose employees and promote them.
And the September sentencing
of a Canadian automobile executive to 15 years in jail has made many
worry that the routine practice of making payoffs to Cuban officials,
ranging from cash to free meals, could result in the prosecution of
businessmen who fall out of the government’s favor.
Beggars...choosers....
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