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Cuba Moves toward Greater Autonomy in Business Sector

Ricardo Cabrisas, Minister for the Economy and Planning

Ricardo Cabrisas, Minister for the Economy and Planning

Havana, December 29 (RHC)-- Cuban Minister for the Economy and Planning Ricardo Cabrisas underscored advances toward granting Cuban companies greater autonomy.

In statements to Granma newspaper, Cabrisas pointed to the recently approved regulations aimed at improving the business sector toward higher efficiency.  Under the new rules, which have already come into force, functioning of Cuban business entities and state institutions are two separate things, with companies deciding on many issues that previously fell under the authority of ministries. 

He explained that the new regulations, a Decree Law and three Decrees are the result of the gradual process of transformations in the Cuban business system, which began in 2011 after the Sixth Congress of the Cuban Communist Party.

Edited by Jorge Ruiz Miyares
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