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Stock photo: Unsplash
The Context
Havana wants investment without the institutions that investment requires. Promising economic change while retaining political control leaves property rights and dispute resolution unresolved, which is precisely what any foreign operator would need settled before committing capital.
The Takeaway
- Economic change without institutional reform leaves commercial contracts unenforceable in practice.
- Treat Cuba as a watch item rather than a pipeline market until the courts change.
- Track who moves first, because early entrants will define the terms everyone else gets.
Source: English