(EFE).- Spain announced this Friday that it will support micro, small and medium-sized companies ( MSMEs) Cuban private companies interested in doing business there and will facilitate avenues for potential investors.
The three pilot sectors will be food, technology and cultural industries, commented the economic and commercial adviser of Spain in Cuba, Manuel Casuso, during a meeting with some 50 private businessmen in Havana.
The initiative, which starts this May, includes information services through the Economic and Commercial Office of Spain and the establishment of a fast track for the issuance of business visas, Casuso said.
The objective is that “they can buy and sell in Spain and invest with Spanish companies,” Casuso told EFE at the end of the meeting.
“Our expectation is that these measures improve and strengthen the new business sector that is beginning this path,” he added, underlining the “potential” of Cuban entrepreneurs, especially in sectors such as technology.
“Our expectation is that these measures will improve and strengthen the new business sector that is beginning this path”
He also recalled the traditional presence of Spanish companies in Cuba, which support the Iberian country as Europe’s first trading partner on the Island, and the third in the world, behind only China and Venezuela.
Meanwhile, the Spanish ambassador in Cuba, Ángel Martín, stressed in this meeting the importance of the MSMEs in the economy and showed his “support” for the initiative.
The Cuban government authorized in 2021 the creation of MSMEs after prohibiting them since 1968. Currently there are more than 7,000, according to official figures and they work in activities related to the food sphere, accommodation, beauty services and local development projects, among others.
These companies do not have access to spheres considered strategic by the Cuban State such as health, telecommunications, energy, defense and the media.
The MSMEs they 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 system-, non-agricultural cooperatives and self-employment.
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