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October Thursday

Cuba to transform its entrepreneurial system

HAVANA, Cuba, Oct 13 (ACN) Cuba is making a deep transformation of its entrepreneurial system as a result of 15 new measures that will complement 28 others previously taken.

Alejandro Gil, Deputy Prime Minister and Economy and Planning Minister, referred to that issue on the Mesa Redonda (Round Table) radio and television program, as part of a series of talks about Cuba's economy and development.

He explained that work is being done to remove obstacles and implement solutions, adding that the Branch, which will be subordinated to a parent company, will be created to grant it legal personality and facilitate operations.

There will be a new system to allocate hard currencies, which will be controlled by the Ministry of Economy and Finance.

Gil added that it will not be a centralized allocation of resources, as it has to be more open to make tasks viable.

The deputy prime minister noted that progress has been made in the creation of micro, small and medium-sized enterprises since June, in both the state and the non-state sectors, under an inclusive concept.

That will allow obtaining microcredits and benefiting from talent according to the economy.

Another measure is the creation of joint ventures with micro, small and medium-sized enterprises to boost the economy, said Gil, adding that this initiative must be promoted by the State.

Therefore, it is a system that consists of varied entrepreneurial private and state formulas, the minister said.

At the same time, Gil recognized the impact of 121 punitive measures taken by the Government of the United States against Cuba, despite the damage caused by the Covid-19 pandemic.

That damage affects more than 150,000 state workers who are not working and a large number of non-state employees in that situation, in addition to a low level of economic activity for those who remained at work.

This situation is reflected in the demand for expenditures and in the economic activity in general, Gil added.

However, Cuba´s priority has always been public health and allocating resources where they produce more according to the country's needs, the minister noted.





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