Cuban Non-State Sector Keeps Growing with New Companies

Havana, Jun 30 (ACN) With the approval by the Cuban Economy Ministry of 117 new applications for micro, small and medium companies the number of the emerging economic actors has grown to over 4 thousand since the initiative kicked off in September 2021.

Out of the total of companies 3 thousand 991 are private businesses, 51 are state-run, along 55 cooperatives. These new economic actors are expected to create 68 thousand 441 new jobs.

Fifty four percent of the newly approved businesses were upgraded self-employments and 46 percent belong to newly created enterprises.

The new economic sectors operate as local development projects or withing scientific and technological parks.