Cuba opens door to most small business initiatives

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

In a major reform of the state-dominated economy, the Cuban government will allow small private businesses to operate in most fields, eliminating ...

FILE PHOTO: A view of the seafront Malecon during an overnight curfew amid concerns about the spread of the coronavirus disease , in Havana, Cuba, September 1, 2020. REUTERS/Alexandre Meneghini/Pool/File PhotoHAVANA: In a major reform of the state-dominated economy, the Cuban government will allow small private businesses to operate in most fields, eliminating its limited list of activities, state-run media reported on Saturday .

Reform-minded Cuban economists have long called for the role of small business to be expanded to help jump-start the economy and to create jobs. The crisis has forced a series of long promised but stalled reforms, from devaluation of the peso and reorganization of the monetary system to some deregulation of state businesses and foreign investment.

President Miguel Diaz-Canel said last year the country faced an international and local crisis and would implement a series of reforms to increase exports, cut imports and stimulate domestic demand.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US

United States United States Latest News, United States United States Headlines