2023-05-04 12:48:59
Cuba’s Ministry of Economy and Planning (MEP) yesterday gave the go-ahead for the constitution of 294 new small and medium-sized enterprises (SMEs). 282 are purely private companies, 11 of them state SMEs and one company is a cooperative. The latest round of approvals is the largest bunch of new economic players ever to be given the green light in one fell swoop in socialist Cuba.
Among the newly admitted SMEs (list as PDF) are companies from practically all sectors and parts of the country. These include, for example, grocers and manufacturers of everything from cheese to canned fish, construction companies, bakers and catering companies, transport service providers, manufacturers of various industrial goods from furniture to optical instruments, plant installers, veterinary medicine companies, textile factories and IT companies. Some of them continue to operate closed state factories with new and old machines.
Since the entry into force of the SME laws of September 18, 2021, their number has grown to 7,714. Around 200,000 people currently work in the sector. SMEs can employ up to 100 people in Cuba and, as a separate legal entity, enjoy tax advantages over self-employed workers.
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