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MAR 29, 2014 - San Francisco Chronicle

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Cuban lawmakers weigh key foreign investment law

Expected to be approved by the more than 600 deputies, the bill would replace Cuba's 1995 foreign investment law which has lured less overseas capital than the island's Communist leaders had hoped, contributing to sluggish economic growth. An exception for companies that work in the exploitation of natural resources, such as nickel or fossil fuels, would establish taxation rates in such cases as high as 50 percent. The investment law is a fundamental part of President Raul Castro's package of reforms, begun in 2008 with the stated goal of "updating" Cuba's economic model.

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