The Cuban Vice Prime Minister and Minister of Foreign Trade and Foreign Investment, Óscar Pérez-Oliva Fraga, denied that the government is replicating the economic model of China or Vietnam, although he acknowledged that both experiences have been studied and admitted that the reforms undertaken on the island will require adjustments as they progress.
The statements were made during an interview with journalist Juan Carlos López from CNN, and a snippet was shared on Saturday by the Ministry of Foreign Trade and Foreign Investment (MINCEX), amid the debate sparked by the package of 176 economic measures approved by the National Assembly at the end of June.
In response to the question of whether Cuba is headed towards a model similar to China's, Pérez-Oliva Fraga replied that "it is not the model of any country."
"We cannot deny that we have studied the experiences of other countries, China, Vietnam; there are successful experiences where they too had to rectify certain issues," he stated.
The official explained that the economic transformation process undertaken by the Government is not designed as a rigid framework and acknowledged that it will be necessary to introduce changes as its implementation progresses.
"We are embarking on a journey of multidimensional transformations. Undoubtedly, it is a path where it will be necessary to correct some mistakes; where the results are positive, we will expand the possibilities," he noted.
Reject a return to capitalism
During the interview, Pérez-Oliva Fraga also dismissed interpretations that portray the reforms as a departure from the socialist model.
"It is said that Cuba is returning to capitalism, that subsidies are being eliminated, that people are being unprotected, and precisely what we are seeking is the complete opposite," he stated.
The Deputy Prime Minister acknowledged, however, that one of the biggest challenges will be to change the mentality of a population that has been accustomed for decades to the universal subsidy system.
In his opinion, this cultural change represents "the most complex" aspect of the process, although he expressed confidence that both citizens on the island and the Cuban community abroad will understand the need for these transformations.
The statements contrast with the assessments of several analysts consulted by CNN.
Political analyst José Azel argued that the reforms are unlikely to attract foreign capital as long as the government does not provide greater legal guarantees to investors.
"Cuba needs foreign investments, capital, and that capital will frankly not exist if there are not much stronger guarantees than those being offered by the Cuban government," he stated.
In the same vein, economist Pedro Monreal had warned in May that Cuba missed the opportunity to undergo a transformation similar to that experienced by China or Vietnam, due to the lack of essential conditions such as a solid framework for property rights, availability of foreign currency, and international integration.
An economy under heavy pressure
The vice prime minister's statements come in the context of a deep economic crisis.
During the interview, Pérez-Oliva Fraga himself acknowledged the challenges the country faces in ensuring energy supply.
"Today it is known that our country is receiving fuel in containers; it is an unsustainable supply system for an economy," he stated.
While the Government seeks to promote its reform program and attract foreign investment —including that presented this weekend to Chinese entrepreneurs in Yangzhou— the United States continues to apply pressure on Havana.
On June 23, the Donald Trump administration expanded sanctions against five entities linked to the military conglomerate GAESA. At the same time, the State Department described the Cuban economic reforms as "modest, long-awaited, and ultimately superficial smoke signals", stating that they do not address the structural issues of the island's economy.
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