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March 17, 2023
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Ministry of Economy of Cuba notifies 116 new approved MSMEs

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The Ministry of Economy and Planning of Cuba (MEP) approved 116 new micro, small and medium enterprises (MSMEs); of them, 115 are private and one state.

With the creation of these MSMEs, announced today from the Economic Actors Channel, on Telegram, the figure rises to 7,225 approved since this process began in 2021, according to data updated by the agency. efe.

Of the new group, 31 correspond to micro-enterprises, 54 to small companies and 30 are included in the medium-sized category, according to The document shared by means like cubadebate.

The authorizations to create both 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.

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

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 Cuban State; also with non-agricultural cooperatives and self-employment.

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