Cuba Keeps Boosting Private Initiative

Havana, Jun 9 (ACN) The Cuban Economy Ministry approved 108 new applications for 107 private companies, which take the number of these new private businesses to over 3 thousand 6 hundred.

The total number of non-state actors include 51 state small companies, 54 cooperatives and 3 thousand 660 private businesses, which are expected to create 62 thousand 301 new jobs in different economic sectors.

According to recent statistics, 50 percent of the over 3 thousand 6 hundred companies are involved in manufacture and construction, said Daniel Torralba, expert with Economy Ministry.

The expert said that over 25 percent of all private companies have employed young Cubans below 35 years of age, which is in tune with the government’s willingness that the young people build their own life projects in Cuba.