Another 67 MSMEs receive authorization to operate in Cuba

The Ministry of Economy and Planning (MEP) of Cuba reported on Wednesday the approval of a group of 67 new micro, small and medium-sized companies (MSMEs), a form of management that has been added to the island’s economic system since September 2021.

Of the new authorized enterprises, 63 are private and four are state-owned, according to a note published by the official website Cubadebate.

In this way, the number of these new players with the green light to operate in the country grew to 7,781, according to the count kept by the Efe agency.

Business Law in Cuba, an urgent need

Most of the authorized entities are now dedicated to marketing textile and footwear products, manufacturing clothing, preparing meat products and their derivatives, bakery and wine, gastronomic and construction services, among other activities.

Its approval is part of the measures that the Cuban executive is carrying out as part of its reform process, in the midst of the severe economic crisis that Cuba is going through.

However, although they can engage in a wide range of activities, they are not authorized to do so in those considered strategic by the government, such as health, telecommunications, defense, and the media.

MSMEs can also be state-owned and there is also the possibility of creating non-agricultural cooperatives, which coexist with the socialist state company, considered a priority for the authorities.

They can also have a mixed character. They are recognized as an economic unit with legal personality with its own characteristics.


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