A Place to Build

Fluid economic exchanges between Cuba and the U.S. are a fever dream, likely years, if not decades, away. But the recent maneuvering of the Obama administration does provide a foothold for companies to begin bringing commerce and construction to an otherwise underdeveloped nation.

Builders have shown a particular interest in Cuba, as the country serves as a potential blank slate for ambitious developers. Tom Murphy, chairman and chief executive of Miami-based Coastal Construction Group, told the Miami Herald that he sees the president’s move as a “first step,” but is hoping for the embargo to be lifted completely.

“The best thing we could do is go in and rebuild the place, “ he said, adding, “and while we’re at it, let’s build a couple of casinos.”

Still, as Murphy alluded to, the number of roadblocks barring confident, transparent transactions are many, and sidestepping the Castro regime is not an option. Even labor is controlled by the government, which only allows foreign companies to operate using state-selected employees – many of whom make only $30 to $40 a month, a violation of international labor agreements, according to the Herald.

There is certainly an opportunity for Cuba to become a major, Central American profit center, but the realization of the country’s potential hinges significantly on how state’s government handles the influx of American business. The next few years will be telling on how the longer relationship should unfold.