As reported by the ministry through Telegram, the number of these new economic entities approved since September 2021 now stands at 7,718.
Of the new MSMEs, only one does not belong to the private sector and the majority will operate in activities related to gastronomic services, construction, the marketing of food and clothing, among others, according to a report by EFE news agency.
The authorization to this new form of management is part of the strategy of the Cuban government to update its economic model which for more than six decades has had a markedly centralized character.
These new types of management are generally private and focused mainly on activities related to accommodation, various services such as beauty and local development projects, although current legislation covers many more possibilities.
However, these new forms of management were marginalized from spheres considered strategic by the Cuban State, such as health, telecommunications, energy, defense and the media.
MSMEs can also be state-owned and there is also the possibility of creating non-agricultural cooperatives, which coexist with the socialist state enterprise, considered a priority for the authorities.
They can also have a mixed character and are recognized as an economic unit with legal status with its own characteristics.
In addition to revitalizing the battered Cuban economy in the midst of one of its worst crises, the island’s economic authorities hope that they will help create new jobs outside the state sector.