Cuba has approved 497 private musemes with new economic model

Cuba has approved 497 private MSMEs with a new economic model, in this way, the island has 520 new micro, small and medium enterprises.

Recently, the Ministry of Economy and Planning approved 104 companies of companies: 100 of private MSMEs, 2 state mipymes and another 2 to non -agricultural cooperatives.

Cuba has approved 497 Private MSMEs

Cuban authorities detail that 56 % of these companies come from previous businesses and 44 % are new ventures.

In addition, 34 companies are local projects, 19 are dedicated to export and 6 were gestated in the Scientific and Technological Park of Havana.

It is estimated that these 104 new MSMEs will generate 7704 new jobs in Cuba.

The Government of Cuba has authorized the creation of private companies (small and medium), with the approval of a decree-law on micro, small and medium enterprises, of up to 100 employees.

Cuba established that MSMEs can be state, private or mixed and that microenterprises can have up to 10 employees, small of 11 to 35 employees, and the medium up to 100 employees.

This measure is a government measure to neutralize the economic contraction of Cuba, which was 10.9% last year and another 2% until June.As a result, there is a worsening of the shortage of food, medicines and other basic goods.

Also, the economy of Cuba is expected to be reactivated with the opening of tourism, which will increase the availability of currencies.They also consider that currency income will also increase with the export of vaccines, national food production and energy efficiency.

Without a doubt, the delicate economic situation that Cuba is going through has forced the government to assume new measures that imply the inclusion of MSMEs.They would supposedly begin to acquire a greater prominence in the operation of the national economic apparatus.

In this way, it is aspired that the generation of new sources of employment promotes a strongly hit economy with the coronavirus pandemic.

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