(VOVWORLD) - The Cuban government will allow foreign investment in domestic wholesale and retail trade for the first time in 60 years to address critical commodity shortages.
 People wait to enter the Mercabal wholesale market in Havana |
Cuban Economy Minister Alejandro Gil tweeted on Tuesday that foreign investment in wholesale and retail trade, with state regulation, will allow the expansion and diversification of supply for the population and will contribute to the recovery of domestic industry.
Deputy Trade Minister Ana Gonzalez Fraga said foreign investors would be allowed to fully own Cuban wholesalers for the first time since 1959 Revolution, while retailers could enter into public-private ventures. Previously, foreign investment in Cuba was only allowed in domestic manufacturing and the service sector.