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March 9, 2023
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Cuba exceeds 6,500 MSMEs with a new group approved on Wednesday

OnCubaNews

With the creation of 101 new micro, small and medium enterprises (MSMEs) private companies this Wednesday, Cuba exceeded the figure of 6,500 of these authorized companies since 2021, according to information offered by the Ministry of Economy and Planning (MEP).

The new group of MSMEs includes companies dedicated to construction, gardening, computer and gastronomic services, as well as food, beverage and tobacco marketing, furniture manufacturing, vehicle maintenance and repair, among other activities.

the MEP has given the green light already 6,505 small and medium-sized companies, between private and state, since the process began in September 2021. The new group was informed by the channel of economic actors of the MEP.

The authorizations to create MSMEs and cooperatives include activities related to accommodation, various services such as beauty and local development projects, among others.

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

Business Law in Cuba, an urgent need

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 coexists with the socialist state company, the main one for the State in the Cuban socialist system; also with non-agricultural cooperatives and self-employment.

Efe/OnCuba.

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