Cuba pledges to protect foreign companies against lawsuits
Cuba has promised legal protections for foreign companies to shield them from Helms-Burton Act lawsuits.
The controversial law was enacted by the Trump Administration which makes American companies liable for compensation if they use property that was seized by Cuban authorities.
Cuban Tourism Minister Manuel Marrero says it won’t apply to the many foreign companies operating tourism businesses.
"This legal aberration, which affects U.S. companies first, can’t be applied in Cuba, therefore all companies which operate in our country have total legal security under Law 118 of Foreign Investment and Law 80 of National Dignity," Marrero said.
Speaking at the FITCuba 2019 tourism fair, Marrero said tourism investors from Canada and Europe will be shielded from litigation but American companies could still find themselves facing lawsuits for compensation claims.
Last week Carnival Corp was the first US-based company to be hit with a lawsuit under Title III of the Helms-Burton Act.
The long established Helms-Burton Act had previously been suspended by every President since Bill Clinton.
Despite the legal uncertainty ahead for US tourism investors, several us-based firms attended FITCuba.
It attracts about 2,000 tourism industry delegates from more than 40 nations.
Cuba tourist arrivals are expected to reach 5.1 million this year, which would be a 7% increase on 2018.
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