Connect with us

Hi, what are you looking for?

Economic Development

MSMEs Approvals Predicted to Generate Over 9,000 new jobs

The Ministry of Economy and Planning (MEP) predicts a total of 9,513 new jobs will be generated as a result of the increasing number of approvals. Photo: Allan Wadsworth

Over 9,000 jobs will result from the latest approval of 89 additional micro, small and medium-sized enterprises (MSMEs) this week.

The latest authorizations of the MSMEs result in a total of 615 new businesses approved since September, the Ministry of Economy and Planning (MEP) reports.

The MEP estimates 9,513 new jobs will be generated because of the approvals.

The new approvals of MSMEs comprise of four state-owned and two non-agricultural cooperatives. Of the total of authorized MSMEs, 586 are private businesses, 15 are state-owned and 14 are cooperatives. The approvals this week were 57% conversions of pre-existing businesses and 43% new business ventures.

Advertisement. Scroll to continue reading.

Of the approved businesses, 37 are local development projects, 23 have carried out exports, and six evolved in the Science and Technology Park of Havana.

The MSMEs are seen as a benefit to economic development. In addition to creating new jobs, they adapt well to financial crises and enable local development.

Related News:

Foreign Investment in Cuba

Vietnam’s Thai Binh Corporation held a trade forum in Havana, attended by approximately 130 State and private businesses from various sectors of Cuba. The...

Economic Development

While every meeting of the Group of 77 (G77) plus China is historic in itself, the Havana Summit “will be even more so because...

Economic Development

Preparations are underway in Havana for the Group of 77 and China (G-77 and China) Summit scheduled for September 15 and 16. Cuba, in...

Economic Development

The Fifth Conference of the United Nations on the Least Developed Countries (LCD5) begins in Qatar today until March 9. The UN Conference takes...

error: This content is copyright protected.