In a rare address to U.S. business executives, a senior Cuban official laid out an array of investment opportunities, declaring that "Cuba was, is and will be an open economy."

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Many of the openings cited Tuesday by Ernesto Melendez, minister president of the State Committee for Economic Cooperation, and other officials were prompted by a need to adjust to deep cuts in Soviet oil and loss of old socialist markets.The Americans were among 125 business people in Cancun, Mexico, attending a two-day conference on Cuban trade, sponsored by London-based Euromoney Publications. Most said they don't intend to invest in Cuba at the moment but want to keep track of developments.

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