February 4, 2023
Cuban government ratifies the first 32 private companies |  Economie

Cuban government ratifies the first 32 private companies | Economie

The Ministry of Economy Cuba Announced this Wednesday (30) Approval of the first 32 private micro, small and medium-sized companies and three state-owned companiesNine days after implementing a long-awaited reform in a largely state-owned economy.

“The measure authorizes the formation of these new economic actors, who can already proceed with their constitution as legal entities, to carry out their economic activities,” the ministry reported, in a note published by the local press.

The new businesses come from 11 of the country’s 15 provinces. Among them, 13 will be allocated to food production, six to industry, three related to recycling activities, and another three to technological activities.

Twenty of them are reconversions to self-employmentThe note adds that it is so far the only way to work in the private sector for the new form of non-governmental administration, while the other 15 were newly created.

“Other applications (submitted 20 years ago) are being processed. So far, none of them have been rejected,” said the Economy Ministry, which is responsible for approval.

After years of waiting, which elicited disbelief from the parties involved, the government implemented the labor laws of “mipymes”, as well as those of non-agricultural cooperatives.

With an 85% state-owned economy, a large part of the more than 600,000 independent workers – concentrated in the service sector: restaurants, transportation, and equipment repair – should be the main source of the private micro, small and medium-sized enterprises that disappeared from the country in 1968. Fidel Castro Adherence to the model of the Soviet state and its nationalization began in the “revolutionary offensive”.