Cuba implements major economic reforms for private sector

economic reform private enterprise foreign investment trade liberalization Cuba

Cuba has implemented a major package of economic reforms aimed at attracting foreign investment and expanding the private sector. Through several new decrees, including Decree-Law 133 and Decree-Law 128, the government is facilitating greater autonomy for non-state economic actors.

Key changes include allowing private companies to employ more than 100 workers and permitting them to associate directly with foreign capital. Foreign companies are now authorized to hire employees directly without using state agencies and can operate bank accounts abroad without prior authorization from the Central Bank of Cuba. Additionally, private entities can now conduct direct import and export operations, subject to authorization from the Ministry of Foreign Trade and Investment.

Property and land rights have also been updated under Decree-Law 130, which modifies the Civil Code to allow for longer terms of usufruct and surface rights. Furthermore, the reforms permit Cuban nationals residing abroad to become partners or owners of private companies within the country. These measures are part of a broader strategy to address the island's economic and energy crisis and are intended to stimulate the influx of foreign currency.

Entities

Central Bank of Cuba · Council of State of Cuba · Cuba · Lázara Mercedes López Acea · Miguel Díaz-Canel · Ministry of Economy and Planning · Ministry of Foreign Trade and Investment · National Institute of Attention to New Economic Actors · National Institute of Non-State Economic Actors · National Institute of State-Owned Enterprises · Óscar Pérez-Oliva

Claims

What the coverage asserts, and how many sources carry each claim.

[● 7 SOURCES] Decree-Law 133 allows for the creation of private companies with more than 100 employees. www.telecubanacan.icrt.cu · actualidad.rt.com · adelante.cu · canaln.pe · www.directoriocubano.info · +1 more
[● 3 SOURCES] New regulations modify the Civil Code to allow for longer terms of usufruct and surface rights. www.tvyumuri.cu · tiempodigital.mx · www.trabajadores.cu
[● 7 SOURCES] Foreign companies can open and operate bank accounts abroad without prior authorization from the Central Bank of Cuba. tiempodigital.mx · ensegundos.com.pa · www.telesurenglish.net · www.trabajadores.cu · diariochilecito.com · +2 more
[● 8 SOURCES] Foreign companies are authorized to hire employees directly without using state agencies. tiempodigital.mx · ensegundos.com.pa · www.telesurenglish.net · www.trabajadores.cu · diariochilecito.com · +3 more
[● 3 SOURCES] The new economic reforms could have a short-term impact on the Cuban economy. tiempodigital.mx · www.telesurenglish.net · ensegundos.com.pa
[● 8 SOURCES] Private companies are permitted to conduct direct import and export operations with state authorization. www.telecubanacan.icrt.cu · actualidad.rt.com · adelante.cu · canaln.pe · www.directoriocubano.info · +2 more
[● 2 SOURCES] Decree-Law 120 grants full autonomy to state-owned enterprises, allowing them to create subsidiaries and merge without Ministry of Economy approval. oncubanews.com · diariochilecito.com
[● 6 SOURCES] Cuban nationals residing abroad can now be partners or owners of private companies in Cuba. www.telecubanacan.icrt.cu · actualidad.rt.com · adelante.cu · www.directoriocubano.info · krdo.com