Santiago de Cuba hosts provincial economic development event

The provincial event ‘El municipio que queremos’ (The municipality we want) has launched in Santiago de Cuba. The initiative aims to strengthen the economy by promoting new forms of economic management and leveraging the specific potential of local territories.

During the inaugural session, Reinier Limonta Montero presented a strategy to transform local development projects into formal business entities, such as MSMEs (micro, small, and medium-sized enterprises), cooperatives, commercial companies, or state-owned enterprises. The model includes legal mechanisms for bidding and the concession of economic activities to optimize available resources.

The program emphasizes using existing municipal infrastructure and capabilities to develop commercial, productive, and service-oriented activities that meet community needs. Local governments are expected to identify economic opportunities and support entrepreneurs. Key challenges identified for the sustainability of these new businesses include access to financing, raw materials, material resources, and the simplification of administrative procedures.