A Canadian lawyer living in cuba: Lessons learned OVER 20 YEARS.

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Presentation transcript:

A Canadian lawyer living in cuba: Lessons learned OVER 20 YEARS. 22 September 2018

My background in Cuba & Gowling WLG in Cuba.

Politics and social concerns trumps economic and commercial concerns: political context, trust, money does not talk.

Nationalism: Humility, respect, listening.

Cuba has clearly defined priorities: Understand them (ie Cuba has clearly defined priorities: Understand them (ie. Lineamientos and MINCEX portfolio.) Search for alignment.

Be ready for surprises: Situation is fluid and evolving.

You are not a pioneer: Learn from other foreign investors with Cuba experience.

Tough negotiations: Do not underestimate the sophistication and firmness of Cuban officials and negotiators.

Need for patience: Understand the levels of bureaucracy Need for patience: Understand the levels of bureaucracy. The people across the table not going to make the big decisions.

No “regime change”. No jump to free-market capitalism. No secrets No “regime change”. No jump to free-market capitalism. No secrets. No short-cuts.

Prove you have capital, markets, technology and know-how.

Property rights: Nationalization. Real estate. Intellectual property.

Strategic investment and trade opportunities…

Activities directly and indirectly related to tourism expansion.

Any sector needing highly educated population.

Agriculture.

Geographical gateway location.

Cuba’s priorities: Renewable energy, Diversifies export markets, advanced technology, import substitution, access to external financing sources, employment creation.

Cuban Paradox: One of the least “investor friendly” countries, but the most attractive market around.

Engage now: Build trust. Become familiar. Initiate negotiations.

gregory.biniowsky@gowlingwlg.comust. EnGregory Biniowsky gregory.biniowsky@gowlingwlg.comust. Become familiar. Initiate negotiations. Engage now: to build trust. Become familiar. Initiate negotiations.