Cuban President Diaz-Canel Announces Market‑Socialist Reforms

Cuban President Miguel Díaz‑Canel told state media that the island will move toward a socialist market economy modeled on China and Vietnam. The plan calls for a substantial expansion of the private sector, the opening of tourism, agriculture and real‑estate to private investors, and a streamlining of business licensing. He also announced a reduction of ministries from 27 to 20 to create a leaner state apparatus. “It is time for change,” he said, adding that “these are times in which we must change.”

The reforms come amid intensified U.S. pressure, including recent sanctions on the Cuban oil firm CUPET and broader measures that have sparked severe energy shortages. Havana hopes the new policy will attract foreign investment, allow overseas Cubans to contribute economically, and alleviate the worst economic crisis the country has faced since the Soviet collapse. A Colombian naval vessel recently delivered about 100 tonnes of food, medicine and solar panels as humanitarian aid.