Cuba approves another 175 MSMEs

The Ministry of Economy and Planning of Cuba (MEP) approved this Thursday the creation of 175 new micro, small and medium enterprises (MSMEs), of which only three are state-owned. Along with these, a non-agricultural cooperative received approval.

In this way, there are 6,161 economic actors approved since the process began in September 2021, the MEP indicated on Twitter.

To date there are 6,026 private MSMEs and 75 state MSMEs that received authorization from the Government together with 60 non-agricultural cooperatives.

According to the economic authorities, 52% are conversions of pre-existing businesses and 48% correspond to new ventures.

The Cuban government expects these economic actors to generate 104,721 jobs.

“Of all those approved, 144 are part of local development projects and 13 are incubated in the Science and Technology Park of Havana,” the information specified.

Authorizations to create MSMEs and cooperatives include activities related to accommodation, beauty services, local development projects, among others.

However, they do not have access to spheres considered strategic by the State, such as health, telecommunications, energy, defense and the media.

Cuban television and economic reality

MSMEs can be state, private or mixed, and are recognized as an economic unit with legal personality with its own characteristics.

This type of economic actor shares the Cuban scenario with the socialist state company -the main one for the State-, non-agricultural cooperatives and self-employment.


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