Havana, Nov 10 (ACN) With the approval by the Cuban Economy and Planning Ministry of 114 new applications to set up micro, small and medium companies, the number of these businesses has reached five thousand 770, since the initiative kicked off in September 2021.
The majority of the new companies are private--some five thousand 643--, 68 are state-run and 59 are cooperatives, according to the Ministry.
Meanwhile 52 percent of all companies original were self-employment businesses turned into companies, while 48 percent are new enterprises.
The Ministry expects that these new companies generate 98 thousand 533 new jobs.
MSMEs Keep Expanding in Cuban Economy
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