With this new group, there are 5,258 approved since the process began in September 2021. 5,149 are private, 51 state and 58 non-agricultural cooperatives, details the report also published on the agency’s social networks.
The Ministry of Economy and Planning (MEP) today approved 93 applications for the creation of micro, small and medium-sized private companies.
With this decision, there are 5,258 economic actors approved since the process began in September 2021.
— Ministry of Economy and Planning of Cuba (@MEP_CUBA) September 22, 2022
Due to their origin, 52% of the total number of authorized MSMEs are reconversions of pre-existing businesses and 48% are new ventures.
The MEP estimates that these economic actors will generate 89,602 new jobs. In addition, of all those approved to date, 133 are part of local development projects and another 12 are incubated in the Science and Technology Park of Havana.
The authorizations to create MSMEs and cooperatives include activities related to accommodation, beauty services, food production, local development projects, manufacturing, information technology, logistics and transportation activities, among others.
MSMEs share the Cuban economic scenario with the socialist state company -the main one for the Government-, non-agricultural cooperatives and self-employment (autonomous).
They can be state-owned, private or mixed and are recognized as an economic unit with legal personality with its own characteristics, but they do not have access to strategic areas for the State such as health, telecommunications, energy, defense or the press.