Cuba gave the green light this Wednesday to the authorization of 117 new micro, small and medium enterprises (MSMEs) private, reported the Ministry of Economy and Planning (MEP).
With them, there are 4,097 economic actors approved by the state agency since the process began in September 2021.
Of the authorized MSMEs, 3,991 are private and 51 are state-owned, and there are also 55 that are cooperatives.
The Ministry of Economy and Planning (MEP) today approved 117 applications for the creation of micro, small and medium-sized private companies.
— Ministry of Economy and Planning of Cuba (@MEP_CUBA) June 29, 2022
54% are reconversions of pre-existing businesses, while 46% correspond to new ventures.
MEP calculations estimate that these economic actors will be able to generate 68,441 new jobs. Of all those approved, 123 are part of local development projects and 11 were developed in the Science and Technology Park of Havana.
The authorizations to create MSMEs and cooperatives include activities related to accommodation, beauty services and industrial buildings and facilities, food production, exporters, 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 may be state-owned, private or mixed and are recognized as an economic unit with legal personality with their own characteristics, but they do not have access to strategic areas for the State such as health, telecommunications, energy, defense or the press.