Cuba Heute (Berlin, Germany) 4 May 2023: The Ministry of Economy and Planning (MEP) of the Republic of Cuba authorized the creation of 294 new micro, small, and medium-size enterprises (MSMEs). Two hundred and eighty-two are private companies, eleven are Republic of Cuba government-owned MSMEs, and one MSME is a cooperative. The latest round of approvals is the largest number of MSMEs created at one time.

LINK TO LIST OF NEW MSMEs IN PDF FORMAT

Among the newly approved MSMEs are businesses from almost every sector and all areas of the country. They include food traders and manufacturers of products from cheese to canned fish, construction companies, bakers, catering businesses, transport service providers, manufacturers of industrial goods- furniture to optical instruments, plant installers, veterinary businesses, textile factories and Information Technology (IT) companies. Some of the MSMEs operate in previously-closed Republic of Cuba government-owned factories with new and old equipment.

Since the MSME laws of 18 September 2021, the number of MSMEs has increased to 7,714. Approximately 200,000 Republic of Cuba nationals currently work in MSMEs, which may employ up to one hundred workers in the Republic of Cuba and, as a separate legal entity, have tax advantages over those of self-employed workers.

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