Cuba Expects To Enact A New Law On Entreprises In 2017

Cuba Expects To Enact A New Law On Entreprises In 2017 / 14ymedio
Posted on June 13, 2015

14ymedio, 12 June 2015 – Cuba expects to enact a "Enterprise Law" in
2017 in line with the economic reforms initiated by president Raul
Castro in his attempt to "update" the Socialist system on the Island,
according to an official announcement this week.

The new legislation "will reflect the principles, characteristics and
performance requisites of enterprises," said Grisel Trista Arbesu, head
of the organization responsible for the reforms, the Enterprise
Refinement for the Implementation and Development of the Guidelines.

The official, who participated in a two-day workshop held in Havana
under the name Challenges of the Cuban Economy, said that 2015 "will be
the first year that all measures converge to provide the Socialist state
enterprise more autonomy and powers in pursuit of greater efficiency and
productivity."

According to what Trista said during the workshop, attended by 645
specialists, managers and academics from across the country, among the
changes the most important was "the separation of business and
government functions."

The Government considers that the "update" has allowed state enterprises
to restructure both to strengthen the nation's productive sector and to
increase system capacity.

State enterprises continue to make up Cuba's basic economic model,
regulated by legislation passed in 1987. Since officially taking office
in 2008, President Raul Castro has tried to gradually reduce the weight
of a bloated public sector through measures promoting self-employment,
not without multiple obstacles, however.

Source: Cuba Expects To Enact A New Law On Entreprises In 2017 /
14ymedio | Translating Cuba -
http://translatingcuba.com/cuba-expects-to-enact-a-new-law-on-entreprises-in-2017-14ymedio/