Monday, December 06, 2021

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Cuba will continue to improve its economy, says Diaz-Canel

Cuba will continue to improve its economy, says Diaz-Canel

Havana, Sep 21 (Prensa Latina) Cuban President Miguel Diaz-Canel said Tuesday that his country will continue to improve the economy, for which the government is implementing new actions and expanding the actors involved in it.
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In particular, the president referred on his Twitter account to the support for micro, small and medium-sized enterprises (MSMEs), whose operation was recently approved, as well as non-agricultural cooperatives.

The head of state shared with his message a tweet from the Vice Prime Minister and Minister of Economy and Planning, Alejandro Gil, who commented that on the first day of the entry into force of the legal norms that regulate the operation of these productive forms, 75 applications for their creation were received.

‘Very good start. Our team of professionals is working on their evaluation’, added the official.

The day before came into force the provisions that establish the precepts for the creation and operation of MSMEs, approved by the Council of State on August 7, in accordance with the country’s socio-economic strategy. Such organizations may be formed under state and private formats, and may even be mixed, with the same management model, although with tax and legal differences.

The new legal framework for the transformation of non-agricultural cooperatives and self-employment (private) came into force.

This is expected to contribute to the gross domestic product and have an impact on employment and exports, so they will have government support for their technological base.

The priorities set are food production, companies related to additive manufacturing, robotics and those linked to technology parks; as well as local development projects.

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