Cuba approves new decree-laws to expand private sector role

The Cuban Council of State has approved several new decree-laws aimed at advancing economic transformations and expanding the role of the private sector. These measures are part of a broader package of 176 economic reforms intended to liberalize and decentralize the national economy amidst a significant financial crisis.

Key provisions include new regulations for micro, small, and medium-sized enterprises (MSMEs), non-agricultural cooperatives, and self-employment. The reforms seek to eliminate previous restrictions, increase business autonomy, and allow private companies to participate in state bidding processes for goods and services. Additionally, new rules address customs tariffs to facilitate commercial imports by individuals and regulate mandatory civil liability insurance for motor vehicles.

While the reforms offer greater autonomy for foreign investors to partner with private Cuban entities, experts note that high country risk, regulatory instability, and energy crises remain significant challenges. In related developments, President Miguel Díaz-Canel recently visited new facilities for the Higher Institute of Design (ISDI) and the Science and Technology Interface Society (CETA S.A.), highlighting the government's focus on integrating scientific and design capabilities into the country's economic restructuring.