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June Tuesday

Egypt’s ambassador to Cuba Maher El-Adawy favored the tightening of economic relations with the island after expressing his interest in cooperation with production entities in the central Cuban province of Ciego de Avila.

With the approval on Thursday of 92 new private micro, small and medium companies (MSMEs), Cuba now counts on 2 thousand 177 such enterprises, also including state-own and coops since the initiative opened in September 2021.

The Cuban Foreign Trade and Investment Ministry approved the setting up of three state-run micro, small and medium companies to do foreign trade for other non-state enterprises.

We must move towards price rationality through control at the institutional level and efficiency in production, Meisi Bolaños Weiss, minister of finance and prices, said when referring to the incidence of the fiscal deficit in the inflation affecting the country.

“We will never know how many foreign companies interested in investing in Cuba dropped their plans due the US economic blockade against the island,” said Mariluz B’Hammel, Commercial Policy director for North America with the Cuban Foreign Trade and Investment Ministry.

With new and modern investments, the Telecommunications Enterprise (ETECSA) in this province has improved access to mobile technology and fixed telephony services in rural and far-off areas, to the point that 72% of the People’s Councils in the province enjoy some form of connectivity, thanks to an effort to counteract the U.S. economic, financial and commercial blockade, according to the entity’s provincial director Ricardo Serrano.

With a view to new cooperation program centered on the strengthening of municipal economy, Cuba and the European Union (EU) are launching Area One of their multiannual indicative program, called Economic Transition and Sustainable Municipality, at Universidad Central de Las Villas.

The Cuban Economy Ministry has continuously approved an increasing number of micro, small and medium companies in all provinces, like in this central territory which already counts on 73 such businesses.

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