Cuba displays potential of economic stakeholders

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21 December 2020

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Havana, Dec 21 (Prensa Latina) Cuba is currently pledging its firm commitment to dislay the entire potential of small- and medium-sized enterprises (SMEs), as part of changes to increase efficiency and productivity in the domestic economy.

This was made clear during the PymeLab seminar, conceived as an exchange of experiences and organized by the Beligian Embassy, the delegation of the European Union (EU) and the Cuban Ministry of Economy and Planning.

Local experts and authorities harped on the need for an institutional and regulatory framework for private entrepreneurs to be channeled by the SMEs and be fully integrated into Cuba's development.

In this regard, Juventud Rebelde newspaper reported that Deputy Economy and Planning Minister Johanna Odriozola stressed the Cuban socialist project is not at odds with such an economic stakeholders.

For her part, Dr. Natacha Mesa, professor at the Law School of the University of Havana, advocated for a legal standard to regulate the establishment and management of SMEs, under a flexible scheme that provides legal security and incentives.

In keeping with this approach, Ileana Diaz, coordinator of the Entrepreneurship and Innovation Network, pointed out that even with the increasing presence of self-employment, the public-private alliance is not achieved, and complementarity remains a challenge in the country.