The Cuban authorities are preparing a draft Business Law with the purpose of being discussed and approved next December by the National Assembly of Popular Power (ANPP)according to official media on the island.
In order to seek the first consensus on the regulations, a survey among 646 state businessmen. Its results were presented at a meeting of the Inter-Institutional Council of one of the macro-programs of the National Economic and Social Development Plan until 2030, that of Government, Institutions and Macro-Economy, according to a report of the Cuban News Agency (ACN).
We are working on the draft of the Companies Law. Important step in the improvement and development of our business system. (+Photos).@MEP_CUBA@PresidenciaCuba https://t.co/rmcAL9eHgl
– Alejandro Gil Fernández (@AlejandroGilF) February 17, 2023
Alejandro Gil Fernández, head of the Ministry of Economy and Planning (MEP), highlighted the importance of the process of debates and consultations that will take place throughout the national territory in order to enrich the initial document, now in preparation to submit it to the evaluation of the Cuban leadership.
The also deputy prime minister stressed that to “establish the principles of future legislation” the call to “shock the state company, the Constitution of the Republic, the Guidelines of the VII Party Congress and the Conceptualization of the Cuban Economic Model” will serve, made by former President Raúl Castro, adds the outlet.
According to the ACN, the survey applied made it possible to collect the first consensus regarding the scope, objectives and principles of the law.
Add the information that their organizational movements and decentralization, typology, integration, heritage, ways of associating or expanding, the economic regime and autonomy will be valued.
In addition, their financial relations with the State, the participation of workers, management bodies, social responsibility and control and internal audit, among other aspects, will be addressed.
Gil Fernández also referred to the weight of the state company in the Cuban economy as the main provider of goods and services, for which it must be distinguished by its efficiency and effectiveness.
In turn, he clarified that “this law will help to put in place many things associated with its missions, governance, Governing Boards, OSDE (superior business management organization), allocation of resources, powers to promote international insertion and creation of business with foreign investment”, among other aspects.
The Cuban government has insisted that the socialist state enterprise It will continue to be the main protagonist of the economy, despite the fact that the updating of the model, promoted several years ago, has opened the doors for a greater role for the emerging private sector through the creation and approval of the micro, small and medium enterprises (MSMEs).
The Business Law appears as a necessity for the purposes of refloating the island’s economy, immersed in a deep and prolonged crisis that in recent years has worsened due to the impact of the COVID-19 pandemic, the sanctions imposed by the government of the United States and the ineffectiveness of most of the measures adopted by the Cuban executive to overcome the problem.
