Cuba implements Decree-Law 167 to reorganize domestic trade

Cuba is implementing significant economic reforms through Decree-Law 167, which reorganizes both wholesale and retail trade. The new regulatory framework introduces several key changes, including the creation of Supply and Neighborhood Markets that will benefit from tax incentives to better manage the distribution of products.

Notably, the decree authorizes foreign investment in commercial activities, opening a sector that has historically faced strict restrictions on foreign capital. The law also seeks to regulate street vending and incorporate e-commerce into the domestic trade system. These measures aim to create a more structured environment for various economic actors, including state entities, small and medium-sized enterprises (MSMEs), and self-employed workers.

President Miguel Díaz-Canel Bermúdez has reaffirmed the government's confidence in the state business system, emphasizing that recent social and economic transformations are designed to place state entities on equal footing with other economic actors. The goal of these reforms is to remove obstacles to wealth creation and increase the efficiency and dynamism of the national economy.