Controversy

Bye-bye Embargo

Many American business men are found full of excitement after being informed about the communist island's investment prospects. For many years foreign investors have struggled to make money in Cuba. They were caught between American trade restrictions, communist bureaucracy and preferential deals. Hopes have been raised by news of a huge deal in the making. A deal that could begin shaping many other things to come.

Mariel, a city just west of Havana, is finally opening their door to Dubai Ports World. After two years of negotiations a partly state-owned company in the United Arab Emirates plans to invest $250m into a modern container facility. By choosing Mariel, one of the closest points in Cuba to the United States, has great significant. Mariel appeals to international port operators do to its proximity to the United States. Many do not see it as a deal to just get goods to Cuba but about getting into the US market. By settling in Mariel it would allow goods to be transferred from the big container ships arriving at the port to smaller vessels which could then reach dozen of harbours in southern United States. Cuban officials do believe that the days embargo are numbered. Within Cuba's' plans there exists the chance of them allowing the creation of theme parks, super-yacht marinas, golf courses and even airlines. All of which apparently are geared to a future American market. Yet patience seems to be the key word for all plans made for the future.

Through out the idea of all the potential investments a controversy has formed. Many people, both regular citizens and political officials have created a point of stance within the plans being made. There are those who are happy to hear that there will finally be an end put to the embargo. They are strong believers that it will allow both the American market and Cuban market to grow and expand.Causing the creation of a great profit for each nation. Within their view the end to the embargo could provide a bonanza to investors with assets in Cuba that would appeal to American corporations. Plans as such are viewed by those who agree as doors that may be opened providing only great opportunities.

On the other side of the controversy there are many people nation wide that believe that the United States should not open up their market to Cuba. The main reason being that Cuba holds a friendly relationship with many countries that are allies to the United States. Therefore many are afraid that the American market could become an easy target for other countries to attack. As well as the chance to fail do to the unsteady economic environment that Cuba is placed in at the moment. There are many reasons that keep people from believing it is not the right choice for America to make such investment plans with Cuba.

Although no plans have been finalized or assured to the public the end to the embargo has already created a controversy.

Site used: economist.com