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August 10, 2022
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Cuba approves new requests from MSMEs

La Cocina de Liliam, restaurante privado en Miramar, Playa. Foto: Umbrella Travel.

According to a note from the Cuban News Agency (Acn), the Ministry of Economy and Planning (MEP) Today approved 180 applications from private micro, small and medium-sized enterprises (MSMEs), a figure that brings to 4,651 the economic actors authorized to practice since the beginning of the process, last September.

The note specifies that of them, 4,544 are private and 51 state, and that there are 56 cooperatives.

Regarding its origin, 53% are reconversions of previously existing businesses and 47% are new ventures.

Cuba: private sector growth continues with the incorporation of 95 MSMEs

According to the MEP, in total it is estimated that these economic actors will generate 79,641 new jobs in the Cuban economy.

Of all those approved, 128 are part of local development projects. Twelve are incubated in the Science and Technology Park of Havana.

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