Cuba details business reforms opening private firms to foreign investment

MercoPress. South Atlantic News Agency

Thursday, July 9th 2026 - 04:13 UTC

Among the changes, authorities will allow the creation of larger private firms, with no size limit, and let a single person own more than one company

The Cuban government on Wednesday set out the scope of measures on the management model for its state and private economic actors, part of a package of 176 reforms approved in June by the National Assembly with the stated aim of liberalizing and decentralizing the island's economy.

Officials from the Ministry of Economy and Planning (MEP) and from two newly created institutes — one for state business assets and another for non-state actors — presented the changes as a way to diversify the business landscape and boost output. The head of the MEP's business system, Yovana Vega, said the provisions seek to have state and private actors “operate under similar conditions in the economy.”