U.S. congressmen say increased investment in Cuba unlikely in short term

AP. Wed Jul 31, 3:05 PM ET

HAVANA - Wrapping up a five-day visit, members of a Democratic U.S. congressional delegation said Wednesday that political conditions had to change both in Washington and on the communist island before Cubans would see any significant U.S. investment.

"As a member of Congress and a businessman I recognize that it is going to be difficult to see, in the short term, significant flows of investment capital into Cuba," Representative Cal Dooley, a Democrat from California, told a news conference.

"But it is important that we move forward with policies that create a political and regulatory environment that is more conducive to foreign investment in Cuba."

Dooley did not elaborate on the changes that Cuba would have to make. But his comments came after reporters asked him about recent complaints from the European Union — which represents 50 percent of the island's business — about the government's cumbersome bureaucracy, security problems and high costs.

Dooley also noted that there was not sufficient political support in the United States to lift sanctions the government placed on Cuba more than 40 years ago.

On July 23, the House of Representatives passed a series of measures that would lift restrictions on U.S. travel to Cuba and on the amount of money Cuban Americans can send back to relatives each year, as well as allowing the financing of agricultural products bought from the United States.

But President George W. Bush has threatened to veto the bill if it passes the Senate, saying that any significant changes in U.S. policy toward the island hinged on the Cuban government making democratic reforms.

"Unfortunately, I don't think we have developed the political support in the House, in the Senate, that will prevent President Bush from vetoing those measures this year," Dooley said. "We have confidence that, in the next few years, we will continue to develop support in Congress for a policy."

Dooley arrived on the island Saturday accompanied by fellow Democratic Representative Lois Capps, also of California, Representative Ed Pastor, a Democrat from Arizona, and Dan Glickman, former agriculture secretary under President Bill Clinton.

The delegation, which met Tuesday first with Cuban President Fidel Castro and later with Cuban dissidents, returned to the United States on Wednesday afternoon.