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People in many places in Cuba marched against the U.S. embargo

Cuba will launch a “negative list” of the private economy.

by YCPress

February 9 The Cuban government announced on the 9th that it would establish a “negative list” of the private economy and significantly relax the scope of private economy operations.

Marta Feto, the Cuban Minister of Labor and Social Security, said on a live radio and television program on the same day that the “positive list” previously set by the Cuban government, including allowing 127 private economic activities, has been abolished, and will now be established based on the “National Classification of Economic Activities” published by the National Bureau of Statistics.

“Negative list” of the business economy. After adjustment, private economic practitioners will be allowed to engage in more than 2,000 activities.

Feto said that the government will also provide more facilities for private economic practitioners to go through relevant procedures and will improve the tax system.

Alejandro Hill, Deputy Prime Minister and Minister of Economic Planning of Cuba, said on the program that in recent years, the private economy has developed rapidly in Cuba, and now there are more than 600,000 Cuban private economic workers, accounting for 13% of the country’s labor force.

Hill said that the abolition of the “positive list” and the establishment of the “negative list” are major reforms in the private economy, and the government will announce detailed plans after adjusting the relevant decrees.

In addition, the government will continue to introduce other policies to promote the development of private economy.

Cuba has gradually liberalized the private economy since 2010.

Last October, Cuba allowed private economic practitioners to participate in import and export trade activities for the first time.