Cuba eyes tourism investments

Cuba approved a new property law aimed at attracting foreign investment in tourism projects like marinas and golf courses, including from the US if Washington reverses its embargo on the island.

Tourism Minister Manuel Marrero announced that the government adopted "a policy of real estate development linked to tourism" as part of the strategy to boost such investment.

Tourism is one of the largest sources of hard currency for Cuba, which gets about two billion dollars annually from visitors.

Mr Marrerro, opening an international tourism fair, said Havana had approved a legal instrument to regulate these marinas, golf courses and other tourism investments.

Cuba received 2.4 million visitors in 2009, and has relied more on foreign tourism since the collapse of the Soviet Union, which had provided considerable aid to the regime.

But Americans are barred from spending money in Cuba under an economic embargo in place since the 1960s.