Cuban-American entrepreneur Carlos Saladrigas, chairman of the Cuba Study Group, firmly stated that without significant political change, any economic reform in Cuba will lack credibility. He shared these views in a detailed interview with the Spanish newspaper El País.
"Without political change, there can be no seriousness or credibility in the measures. Last year, the government seized all foreign currency bank accounts from the Vietnamese, their preferred partners. What credibility can this government have? None," Saladrigas declared from Miami.
When asked about the Cuban regime's set of 176 economic and social reforms introduced in June, he was clear: these do not represent a genuine move toward capitalism.
Saladrigas acknowledged the necessity of many of the reforms, which he believes should have been implemented decades ago. However, he was blunt in his assessment: "The measures are destined to fail," as the government insists on maintaining control over everything without altering the fundamental political structures.
Essential Reforms for Investment
For any serious investment to occur, Saladrigas highlighted the need for a stable macroeconomic environment, a reliable banking system, a robust currency, laws that protect private property, and an independent judiciary.
He also called for constitutional changes to end the single-party monopoly and the lifting of U.S. economic sanctions.
Regarding current investor guarantees, Saladrigas was straightforward: "Virtually none."
A "Marshall Plan" for Cuba
The businessman proposed a "Marshall Plan" for Cuba, suggesting a pact where Washington would lift all executive sanctions for two to three years, providing Havana implements structural reforms.
Simultaneously, Cuba would receive long-term loans—potentially forgivable—to rebuild its electrical grid, sustain schools and hospitals, maintain public order, and lay the groundwork for a market economy.
In a previous interview, Saladrigas estimated the cost of the initial stabilization phase at $6 billion to $10 billion, spanning two to four years.
His plan envisions the Cuban diaspora and the U.S. government as the primary financiers, with smaller contributions from Europe and Latin America.
Ambivalence Towards Trump's Administration
Saladrigas expressed mixed feelings about the Trump Administration. While he supported the pressure it put on the Cuban regime, he voiced concern over remarks by President Trump about having "the honor of taking Cuba" and his ability to "do anything" with the island.
Saladrigas was particularly troubled by statements like "I will be the president of Cuba" or "Cuba is mine whenever I want."
"Those things deeply affect me. It pains me to hear them. I don't want Washington to solve Cuba's problems. We need to solve them ourselves, exercising our autonomy," he emphasized.
The entrepreneur also criticized the Trump Administration's lack of clarity regarding its expectations and accused the Cuban regime of playing a game of doing the least necessary, anticipating that the U.S. elections in November and conflicts with Iran will divert attention.
The Role of the Cuban Exile Community
Saladrigas sees the exile community as a crucial driving force for Cuba's economic recovery but warns that the generation with the most financial capacity and emotional ties to Cuba faces a limited investment horizon.
"I no longer see my investments there in the long term, because at some point, I won't be around," he admitted.
In June 2026, Saladrigas reiterated that investors will not come to Cuba without political changes, a stance he maintains today.
His assessment of the Cuban model was harsh: "Cuba has been very efficient at distributing poverty but disastrous at creating wealth, and if there's no wealth, poverty can't be solved."
Saladrigas arrived in Florida in August 1961 at age 12 as part of Operation Pedro Pan, which brought around 14,000 unaccompanied Cuban minors to the United States.
Decades later, in 1984, he co-founded The Vincam Group, a pioneering human resources management firm that became the largest Hispanic company of its kind in the U.S. It was acquired by ADP in 2000.
He also co-founded the Cuba Study Group, an organization focused on promoting private sector development on the island.
Understanding Carlos Saladrigas and Cuba's Economic Challenges
What are the main obstacles to economic reform in Cuba according to Saladrigas?
Saladrigas argues that the main obstacles are the lack of political reform, government control over all aspects of the economy, and the absence of fundamental changes in the political structures.
What does Saladrigas propose for Cuba's economic recovery?
He suggests a "Marshall Plan" for Cuba, involving the lifting of U.S. sanctions while Cuba implements structural reforms, combined with long-term loans to rebuild infrastructure and establish a market economy.
How does Saladrigas view the role of the Cuban exile community?
Saladrigas sees the Cuban exile community as a key driver of economic recovery, though he notes that the generation with the most financial resources and emotional connection to Cuba has a limited investment horizon.