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September Thursday

MSMEs Open their Way Through in Eastern Cuba

Holguin, Cuba, Aug 12 (ACN) Authorities in eastern Holguin province are focused in the process that will set up micro, small and medium enterprises (MSMEs) as new economic actors recently approved to contribute to a better use of local reserves in the benefit of the country’s production of goods and services.

Julio Serrano, acting director of Economy and Planning said that there is a large number of private workers in different sectors including small construction and food processing industries.

The official said they have all conditions and necessary means to soon set up the new enterprises which will have an economic and social impact. The setting up of the new enterprises in all 14 municipalities of the eastern province is favored by the current existence of over 3 thousand 900 state workers, 53 local development projects, 104 small food processing industries and 59 in the construction materials area.

In Cuba the micro, small and medium companies can be set up both in the private and state sectors.

Cuba’s Finance and Price Minister Meisi Bolanos recently said that the tax system designed for the micro, small and medium companies will contribute to local development.

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