Cuba Counts on Nearly 4 thousand MSMEs

Havana, Jun 16 (ACN) Cuban Economy and Planning Ministry just approved another 104 applications to set up new micro, small and medium enterprises, whose number has now grown to 3 thousand 869 such economic actors since the government policy was implemented in September 2021.

According to the Ministry’s Telegram site, 3 thousand 764 of the new companies are private businesses, 51 are state-run and the rest are cooperatives.

Meanwhile, 54 percent of the total belong to originally self-employment business who were converted to enterprises and 46 percent new companies.

In all, the new enterprises are expected to create 64 thousand 417 new jobs.