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The Cuban regime published on July 9 in the a regulatory package that reorganizes and tightens control mechanisms over foreign investment on the island, with new documentation requirements and a renewed evaluation committee chaired by the Minister of Foreign Trade.
The package includes the , signed by Prime Minister Manuel Marrero Cruz on June 3rd, and two resolutions from the Ministry of Foreign Trade and Foreign Investment (MINCEX): the , which establishes the methodological foundations for the development of the Business Plan, and the , which approves the new regulations of the Foreign Investment Business Evaluation Commission.
Decree 153/2026 amends Decree 325 "Regulations of the Foreign Investment Law" from 2014 — already revised in 2018 and 2019 — with the stated aim of "streamlining the processes of evaluation, approval, and operation of foreign investment modalities, while respecting national sovereignty and independence."
Among the most significant changes is the possibility of evaluating businesses that do not appear in the official Opportunities Portfolio, as long as they comply with the sectoral policies approved by the State.
Resolution 78/2026 replaces the previous technical-economic feasibility study with a Business Plan defined as a "strategic and concise document that systematically presents the fundamental aspects of a foreign investment proposal to assess its compliance with the current laws and policies in the country, as well as the economic viability of the project and its contribution to the economic and social development of the country."
That document, mandatory for any proposal with foreign capital, must be structured into 12 sections that cover everything from the executive summary and business description to financial analysis, market study, workforce, and indicators of direct benefits to the country.
Resolution 79/2026 renews the operations of the Evaluation Commission, chaired by Minister Oscar Pérez-Oliva Fraga and, in his absence, by the General Director of Foreign Investment.
The regulation establishes ordinary sessions every seven business days and allows for the calling of extraordinary sessions with at least 48 hours' notice when the importance or urgency of the matters requires it.
If the Commission requires modifications to a proposal, the applicant has seven calendar days to incorporate them; failure to do so will result in the interruption of the approval process.
These regulations are complemented by the , which extends the validity of the Appraisal Certificate from one to two years, retroactively affecting certificates issued since December 1, 2025.
The regulatory package is framed within the 176 economic measures approved by the regime in June 2026, including the opening of foreign direct investment to private and cooperative Cuban businesses, the extension of land use rights for up to 99 years, and the authorization of bank accounts abroad without prior permission.
However, despite the open rhetoric, the institutional framework remains intact under state control: all foreign investment is still subject to a government-composed evaluation commission and requires approval from the competent state authority, depending on the characteristics and scope of each project.
This scenario is unfolding as Cuba endures its worst economic crisis in decades, with a cumulative GDP contraction of 23% since 2019, according to [source], and projections of an additional decline of 6.5% and 7.2% by 2026, according to CEPAL and the Economist Intelligence Unit, respectively.
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