US allows US-owned factory to be set up in Cuba
For the first time since the Cuban revolution the U.S. has approved the first American-owned factory to be set up in Cuba. The two-man company based in Alabama will assemble as many as 1,000 small tractors a year for sale to private Cuban farmers.
|The partners, Horace Clemmons and Saul Berenthal, claim they will be able to legally build tractors and other equipment in a special economic zone set up by the Cuban government to attract foreign investment. Cuban officials have been enthusiastic about the project and fully endorse it. The two partners expect to be building tractors in Cuba by 2017.|
"Everybody wants to go to Cuba to sell something and that's not what we're trying to do. We're looking at the problem and how do we help Cuba solve the problems that they consider are the most important problems for them to solve, It's our belief that in the long run we both win if we do things that are beneficial to both countries."
"I have two countries that for 60 years have been in the worst of terms, anything I can do to bring to the two countries and the two people together is tremendously satisfying,..I think it'll have a tremendous impact on their ability not only to help their economy but to set an example across the Caribbean and Latin America,