Saturday, 18 May 2019 14:05

Cuba Ratifies Guarantees to Foreign Investors

Written by 26Digital Staff
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Cuba Ratifies Guarantees to Foreign Investors Photo: RHC

Cuba's attraction to foreign investors has not dwindled despite the reinforcing of the US economic blockade, says the Minister of Foreign Trade and Investment, Rodrigo Malmierca.

Havana, Cuba.— Malmierca reiterated that the application of Title III of the Helms-Burton Act seeks to discourage and frighten prospective foreign investors, and expressed the Cuban government's firm opposition to it, in a meeting on Friday at the Nacional Hotel with executives from over 136 enterprises with business in Cuba and diplomats accredited to the island.

"We can assure that we are going to provide all sorts of guarantees within our legal framework to protect foreign investments and businesses in our country," he said.

Cuba's President Miguel Díaz-Canel has also stressed on Saturday his government will enforce all legal guarantees to protectforeign investments on the island from Washington's sanctions.

The decision -he wrote in Twitter- is part of the Cuban response to the activation of Article III of the Helms-Burton Act, with which the US Government pretends to choke the island economically.

Such article allows US federal courts to accept claims by individuals and companies over properties that were nationalized in Cuba in the wake of the triumph of the revolution in 1959, nationalizations done according to the island's Constitution and the international laws.

In his tweet, Díaz-Canel underlines the Helms-Burton Act 'is malformed legislation for its extraterritorial nature,' therefore it has no jurisdiction in Cuba. 

The Cuban Foreign Ministry in another tweet called such legislation "a law of the jungle", about which Havana and Washington will not be able to talk.

(With information from RHC and PL)

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