Professional Documents
Culture Documents
Cuba Opens Up Its Economy To Private Businesses - BBC News
Cuba Opens Up Its Economy To Private Businesses - BBC News
Menu
World Africa Australia Europe Latin America Middle East US & Canada
ADVERTISEMENT
GETTY IMAGES
Many private businesses work in Cuba's tourist industry which has been hit hard by the pandemic
Labour Minister Marta Elena Feito said the list of authorised activities had
expanded from 127 to more than 2,000.
Only a minority of sectors would be reserved for the state, she said.
https://www.bbc.com/news/world-latin-america-55967709 1/7
2/7/2021 Cuba opens up its economy to private businesses - BBC News
The communist country's economy has been hit hard by the pandemic and US
sanctions introduced by the Trump administration.
Last year its economy shrank by 11% - its worst decline in almost three
decades - and Cubans have been facing shortages of basic goods.
Ms Feito said just 124 economic activities would be exempt from private
involvement although she did not mention which ones.
Experts on Cuba's tangled and complicated economy say the step essentially
opens up almost all economic activity on the island to some form of private
enterprise, the BBC's Will Grant in Havana says.
This will be a significant shot in the arm for those families and individuals who
harbour hopes of moving beyond just the very small businesses into medium-
sized ventures, he notes.
Given how slowly reforms tend to move in Cuba, it may still be some time
before the change is noticeable in daily economic life, our correspondent says.
Some 60 years of hostility between the US and Cuba were eased in 2015 when
then US President Obama and Cuban leader Raul Castro agreed to normalise
relations, allowing US citizens to visit the island and empowering local
businesses.
But Obama's efforts were rolled back by his successor, President Donald
Trump, with the support of hawkish Cuban-Americans who saw Mr Obama's
historic opening as an appeasement of Castro's communist regime.
New US President Joe Biden - who was Barack Obama's vice-president - has
previously signalled that he wants to improve US-Cuban relations but
observers say it is not clear how high it might be on his priority list.
Related Topics
Cuba
1 May 2018
11 January
26 August 2020
2 June 2018
19 April 2018
19 April 2018
Top Stories
https://www.bbc.com/news/world-latin-america-55967709 3/7
2/7/2021 Cuba opens up its economy to private businesses - BBC News
Scores missing as glacier crashes into Indian dam
As many as 150 people are feared dead aer floods are triggered in Uttarakhand.
52 minutes ago
1 hour ago
1 hour ago
ADVERTISEMENT
Features
Snatched from a beach to train North Korea's spies 'We have no weapons - so I fight with a pen'
https://www.bbc.com/news/world-latin-america-55967709 4/7
2/7/2021 Cuba opens up its economy to private businesses - BBC News
21 contenders to watch during 2021 awards season India couple takes the plunge to marry underwater
The 81-year-old conquering the world's highest peaks What Myanmar's coup means for Aung San Suu Kyi
The dark history of the Maya's hidden 'devil temple' IS brutality returning to Syrian towns
https://www.bbc.com/news/world-latin-america-55967709 5/7
2/7/2021 Cuba opens up its economy to private businesses - BBC News
Most Read
On your mobile
On smart speakers
https://www.bbc.com/news/world-latin-america-55967709 6/7
2/7/2021 Cuba opens up its economy to private businesses - BBC News
Terms of Use About the BBC Privacy Policy Cookies Accessibility Help Parental Guidance Contact the BBC
Get Personalised Newsletters Why you can trust the BBC Advertise with us AdChoices / Do Not Sell My Info
© 2021 BBC. The BBC is not responsible for the content of external sites. Read about our approach to external linking.
https://www.bbc.com/news/world-latin-america-55967709 7/7