Cuba has 11,000 MSMEs with the 64 approved yesterday

Cuba has 11,000 MSMEs with the 64 approved yesterday

HAVANA, March 21. A group of 64 new micro, small and medium enterprises (MSMEs) received approval to operate, bringing the total to almost 11,000 to date,as reported this Wednesday by the Ministry of Economy and Planning (MEP).

All of the newly authorized companies are privately managed companies and, for the most part, are dedicated to gastronomic services, passenger and cargo transportation, and the maintenance and repair of motor vehicles and motorcycles.

Two of them are in charge of classifying, distributing, transporting and delivering merchandise from abroad contracted to a state entity, and others provide construction services, leasing of homes, rooms and spaces, and manufacturing clothing and footwear, doing computer programming, and making feed.

After being prohibited since 1968, small and medium-sized businesses returned to Cuba’s economic scene in September 2021, within the framework of a package of government reforms.

Cuban MSMEs can be state, private, or mixed, and are recognized as an economic unit with legal personality with its own characteristics.

These companies do not have access to sectors considered strategic by the State such as health, telecommunications, energy, defense, and the media.

This type of economic actor coexists with the socialist state company – the main one for the State in the Cuban communist system -, non-agricultural cooperatives, and self-employment.

With this group approved yesterday, there are currently 10,927 MSMEs, according to Efe.