Cuban Private Sector Keeps Growing with 112 New Businesses

Havana, May 3 (ACN) Cuba’s Economy and Planning Ministry approved the applications to set up 112 new micro, small and medium companies.

The new private businesses will operate in the provinces of Pinar del Rio, Artemisa, Havana, Mayabeque, Matanzas, (west); Villa Clara, Cienfuegos, Sancti Spiritus (Center) and Holguin, Granma, Santiago de Cuba and Guantanamo (East).

The new companies, with majority in the capital Havana, will operate in the areas of gastronomy, construction, meat processing, cargo and passenger land transportation.

The Cuban government approved the first 35 MSMEs in September 2021; two years later (by the end of September 2023) the Cuban Economy and Planning Ministry reported the existence on the island of nearly 9 thousand of those companies and at present that figure has gone up to more than 11 thousand micro, small and medium state and previous companies.