Havana, Jun 23 (ACN) The approval on Thursday by the Cuban Economy Ministry of 111 applications to set up new small and medium companies considerably increases the number of these businesses since the government launched the initiative last year.
The newly approved companies include 110 private enterprises and one cooperative.
Cuba now counts on 3 thousand 874 private companies, 51 state-run businesses and 55 cooperatives, with 54 of them having upgraded from self-employment status into enterprises and 46 as newly opened businesses.
Official estimates say that the new companies are expected to generate 66 thousand 384 new jobs.