Daily Business Review – June 4th, 2015: George Harper and James Meyer assess the risks of investing in Cuba for the DBR
The June 4 issue of Daily Business Review (DBR) interviewed lawyers from the Florida Bar’s International Law Section (ILS) who traveled to Havana to learn more about the possibility of doing business and investing in Cuba after the country’s removal from the U.S. list of state sponsors of terrorism and an imminent diplomatic rapprochement. Cuban lawyer Osvaldo Miranda Diaz spoke to the attorneys on investment opportunities under the new Cuban Law of Foreign Investments. Several of the ILS attorneys expressed misgivings about advising their clients to invest in Cuba at this time. Upon his return from the trip to Havana, George Harper stated: “No one can point to one case where there has been a joint venture between the Cuban government and a private investor in which the government paid out an arbitral award, and that makes me nervous. Until there is rule of law, you can’t have major investment and trading going on.” James Meyer agrees; he observed that the Cuban government would not now allow investments in the telecommunications and aviation sectors.