Cuba is looking to do business with more foreign companies

A scene from Cuba.
(Image credit: Spencer Platt/Getty Images)

Cuba's foreign trade minister said on Thursday that North and South American companies are welcome to discuss with the government setting up shop on the island.

Rodrigo Malmierca met with foreign business leaders in Panama, a day before the Summit of the Americas, and remarked that Cuba wants $2.5 billion in foreign direct investment. "We recognize the importance of international insertion into our economy to diversify our foreign trade, increase access to foreign financing and increasing the participation of foreign capital in the Cuban economy," he said. "We are convinced the countries of the region will accompany Cuba in these endeavors."

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Catherine Garcia, The Week US

Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.