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Cuba approves another sixty private MSMEs and four non-agricultural cooperatives

Havana, Oct 13 (EFE) .- Another 60 new private micro, small and medium enterprises (MSMEs) and 4 cooperatives received the approval of the Cuban Ministry of Economy and Planning (MEP) on Wednesday, bringing the total to 168 authorized requests from these economic actors.

Of that total, 39 have food production as their main economic activity and another 34 belong to the manufacturing area, so far the most represented businesses in these companies, and this group includes the manufacture of construction materials.

A note from the MEP specifies that, due to their origin, 101 of these are reconversion of pre-existing businesses, while 67 are of recent creation.

It also adds that the 162 MSMEs and the 6 cooperatives approved so far have generated some 2,377 jobs.

It was also known that today the first two medium-sized companies on the island were officially established in Havana, Dofleini Software, specialized in programming and computing activities, and another called Guajiritos.

Last August, the Cuban Government approved 8 decree-laws with which it recognizes and expands the management of MSMEs, non-agricultural cooperatives and self-employment (autonomous) as economic actors.

Likewise, it identifies as economic actors in the country the socialist state enterprise (the main one), non-agricultural cooperatives, self-employment (private) and MSMEs.

Cuban MSMEs can have state, private or mixed ownership, they are – according to the regulations that govern their creation and operation – economic units with legal personality, which have their own dimensions and characteristics, and are intended to develop the production of goods, as well as the provision of services that meet the needs of society.

They can be made up of one or more partners, they are constituted as mercantile companies and are classified depending on the number of employed persons as: micro-enterprise, whose range of employed is from one to 10 persons; small business, from 11 to 35; and medium-sized companies, from 36 to 100 people.

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