He reiterated that new commercial companies do not imply losing public ownership.
Cuban President Miguel Diaz-Canel asserted that the transformations included in the package of economic reforms do not imply a privatization process for state-owned enterprises.
During a meeting with business leaders, the president reported that 97% of the 176 measures approved in June to modernize, decentralize, and make the national economy more efficient already have legal backing.
Diaz-Canel explained that 215 legal regulations related to these reforms were approved in the last three months and reiterated that the conversion of state-owned enterprises into commercial companies does not imply the loss of public ownership.
The president emphasized that the socialist state-owned enterprise will continue to be the main player in the Cuban economy and rejected any interpretation that links the new measures to privatization processes.
According to him, the reforms aim to separate ownership from management, attract investment, increase productive efficiency, and leverage capacities that are currently underutilized within the state sector.
The president also indicated that new regulations will allow the establishment of various business-type alliances to strengthen state-owned companies facing economic difficulties and prevent their collapse.
These statements come amid the private sector’s growth in Cuba. Official data indicates that more than 16,000 private companies are currently operating on the island, including thousands of newly approved entities.
teleSUR: JP
Source: EFE
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