The Cuban-American National Chamber of Commerce (CANCC) stands firm in its refusal to engage economically with Cuba unless a significant political shift occurs. Juan Omar Sixto, president of the Chamber, reiterated this stance in an interview with Tania Costa for CiberCuba.
"Until there's a transitional government, the Chamber will not invest a single dollar. We won't set foot in Cuba. That's the bottom line," Sixto declared emphatically.
Sixto dismissed the reforms proposed by Díaz-Canel's regime as ineffective, including laws intended to attract investment from the Cuban diaspora. He argued that these measures are mere diversions. "No matter what laws they introduce to guarantee this or that... No, that's just bait. We're not interested in that bait. It's just bait," Sixto stated.
The Chamber's Stance Amid Economic Maneuvers
The business leader voiced his opinions amidst the regime's aggressive push for foreign investment. On June 18, Díaz-Canel unveiled an emergency economic agenda with 176 measures, such as opening up small and medium enterprises to foreign investment, converting state companies into joint-stock companies, and creating private banking. The CANCC, established in Miami in April 2026, rejects this framework entirely.
During the interview, Sixto also discussed the profile of the Chamber's current business members, many of whom hail from Pinar del Río. These include the Hidroa family, known for their tobacco business in San Luis; Lombardo Pérez, an auto dealer at Metro Ford; and the family of Tony Costa, whose horticulture and plant business employs over 6,000 people and generates more than $1 billion in revenue.
Expanding Membership and Investment Potential
He also mentioned the Concepción family, who transitioned from operating gas stations in Cuba to real estate and auto repair businesses in the U.S.; Manolo Menéndez, a veteran in construction; and Sixto Ferro, heir to the Conchita brand—known for guava, beans, and other products from Pinar del Río—whose company was seized by the regime.
The Chamber's roster includes members from other provinces as well. Sixto highlighted an entrepreneur named Somua from Santiago de Cuba, an auto dealer, and Jorge Suárez Menéndez, a plastic surgeon from Havana who offers his property for group meetings.
Interest in the Chamber extends beyond the Cuban exile community in the United States. Sixto announced the involvement of Federico Ramírez from HMS Corporation in Albacete, Spain—a company that distributes spare parts in 80 countries—who will attend an upcoming meeting about the projected stock exchange in Havana.
Strategic Focus on Major Capital Investment
Looking ahead to the meeting scheduled for July 22, Sixto revealed plans to include 30 new families: "They all have considerable capital."
The Chamber's strategy initially targets substantial capital infusions, aiming for a ripple effect. "Cuba needs that kind of large capital infusion. Because other stock exchange organizations and multinational companies will watch to see if this chamber is truly dynamic, if it has the investment caliber, and that's crucial," Sixto explained.
Consultant Roberto Fernández-Rizo estimates that $35 billion from the exile community is poised for investment in Cuba during the first year following a democratic transition, contingent on the provision of genuine legal guarantees that the current regime does not offer.
Understanding the Cuban-American Chamber's Investment Stance
Why is the CANCC refusing to invest in Cuba?
The CANCC is withholding investment until a transitional government is established, ensuring real political change in Cuba.
What are the CANCC's views on the reforms announced by Díaz-Canel?
Juan Omar Sixto views these reforms as superficial ploys rather than substantial changes, likening them to bait without real substance.
Who are some notable members of the CANCC?
Members include the Hidroa family, Lombardo Pérez, Tony Costa's family, the Concepción family, Manolo Menéndez, and Sixto Ferro, among others.
How much capital is ready to be invested if a transition occurs?
Consultant Roberto Fernández-Rizo estimates that $35 billion from the exile community is ready for investment within the first year of a democratic transition.