Cuba mulls more foreign investment in farming sector

Cuba mulls more foreign investment in farming sector
04.10.08, 2:51 AM ET

HAVANA (Thomson Financial) - The Cuban government is considering opening
up the farming sector to greater foreign investment and closing down
farming cooperatives that have proven to be 'totally inefficient,' top
officials said on Wednesday.

'We are currently studying some business proposals in agriculture,'
Minister of Foreign Investment Marta Lomas told reporters, adding that
in matters of foreign investment 'nothing is off the table'.

She said the effort was focusing on 'rice production', but that foreign
investment could also benefit 'other sectors like livestock', and take
on 'different (business) formulas other than joint ventures, such as
looking for financial backing'.

The measures are part of President Raul Castro's much vaunted economic
and social reform programme for Cuba, which he has been implementing
since he officially took over from his ailing brother Fidel Castro in
late February.

http://www.forbes.com/markets/feeds/afx/2008/04/10/afx4873747.html