|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Cuba

Cuba Opens Broad Swath of Its Economy to Private Enterprise

HAVANA – Cuba’s Communist government vastly expanded this week the scope for private enterprise on the island by opening the vast majority of recognized occupations to self-employed individuals.

More than a decade after authorizing private initiative in 127 categories, the Cabinet approved the scrapping of that list in favor of liberalizing all but 124 of the upwards of 2,000 occupations recognized in the National Classification of Economic Activity, official Communist Party daily Granma reported on Saturday.

Officials have yet to identify the 124 occupations that will be reserved, but areas such as education, health, telecommunications and media are expected to remain restricted.

Under the new system, the government will establish a one-stop permitting process for would-be entrepreneurs, making it “possible to unleash the productive forces in this sector,” Labor and Social Security Minister Marta Elena Feito told her Cabinet colleagues, according to Granma.

The Cuban economy shrank by 11 percent in 2020 due to the COVID-19 pandemic – devastating to the island’s vital tourism industry – and the intensification of the embargo the United States imposed on the country in 1962.

Official data show that 600,000 people, representing 13 percent of Cuba’s labor force, work in the private sector. But that figure refers only to the individual licensed entrepreneurs, most of whom have employees of their own.

There have long been voices, including some inside officialdom, urging the government to eliminate most of the remaining limits on self-employment.

“It’s good news,” economist Ricardo Torres said of this week’s Cabinet decision. “A step in the right direction that, unfortunately, took too long.”

He said he was confident that the government would soon institute “similar changes in relation to the possibility of establishing private enterprises of up to medium size and cooperatives.”

Oniel Diaz, co-founder of business consultants AUGE, called the new policy “an enormous and historic step” and a “paradigm shift” in the realm of official attitudes toward self-employment.

“If with a meager list of authorized activities with inflexible extent, shortage of raw materials, deficient regulations and economic sanctions we have been capable of raising enterprises come hell or high water, this new scenario opens a path with no turning back for us to play an ever more important role in the national economy,” Diaz said.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2021 © All rights reserved