Cuba announced this Thursday the approval of other 105 economic actorswhich adds up to 3,563 those approved since the beginning of the process.
Information from the Ministry of Economy and Planning (MEP) on its social networks specifies that, of the figure, 104 are Micro, small and medium enterprises (Mipymes) private and a non-agricultural cooperative.
The Ministry of Economy and Planning (MEP) today approved 105 applications for the creation of new economic actors, of which 104 are private MSMEs and a non-agricultural cooperative.
— Ministry of Economy and Planning of Cuba (@MEP_CUBA) May 26, 2022
In this way, there are 52 approved cooperatives and 3,460 private MSMEs and 51 state-owned ones, as clarified by the agency.
Due to their origin, 55% are reconversions of pre-existing businesses and 45% correspond to new ventures. The agency estimates that these economic actors will generate 58,466 new jobs in the economy.
The information points out that of all those approved, 120 are part of local development projects, 36 have previously carried out export operations and 11 are incubated in the Science and Technology Park of Havana.
This new Cuban business form shares the economy with the socialist state company -the main one for the Government-, non-agricultural cooperatives and self-employment (autonomous).
MSMEs can carry out activities such as accommodation, beauty services and food production. They do not have access to spheres considered strategic for the State, such as health, telecommunications, energy, defense or the press.
Their composition is state, private or mixed and they are recognized as an economic unit with legal personality with its own characteristics. The private sector was banned in Cuba for decades.