Cuba Study Group Urged US Support for Cuba's Nascent Private Sector
The Cuba Study Group (CSG), a Washington-based organization of businessmen of Cuban origin are seeking a peaceful reunification of the Cuban people within the framework of the rule of law and a market economy.
The group is trying to present a white paper at the 6th Congress of the Cuban Communist Party, set for April 16-19 in Havana. The paper by CSG is supporting Small Business in Cuba: Recommendations for Private and Public Sector Leaders, produced in cooperation with the Society/Council of the Americas and the Center for Financial Inclusion at ACCION International.
The economic revitalization of Cuba is going through a phase during which small and medium private businesses are being empowered by Havana and obstacles imposed by Washington on Cuban economic growth are being relaxed.
The CSG recommended that Cuban authorities learn the lessons of China, Vietnam and Singapore and support the development of small and medium businesses in the private sector as a way to achieve sustainable growth.
It also proposed the creation of a $50 million microloan fund for Cuban citizens who want to open small or medium businesses.
In addition, it assessed the recent economic reforms undertaken by the government of Raul Castro "to allow greater private economic activity to reduce government expenditures, increase productivity and raise wages."
In September 2010, Havana announced the elimination of up to 1.3 million jobs at state-run companies and the creation of 178 new categories of self-employment.
The paper pointed that, if fully enacted, these reforms will constitute the most far-reaching economic remodeling in Cuba in half a century.
The group is trying to present a white paper at the 6th Congress of the Cuban Communist Party, set for April 16-19 in Havana. The paper by CSG is supporting Small Business in Cuba: Recommendations for Private and Public Sector Leaders, produced in cooperation with the Society/Council of the Americas and the Center for Financial Inclusion at ACCION International.
The economic revitalization of Cuba is going through a phase during which small and medium private businesses are being empowered by Havana and obstacles imposed by Washington on Cuban economic growth are being relaxed.
The CSG recommended that Cuban authorities learn the lessons of China, Vietnam and Singapore and support the development of small and medium businesses in the private sector as a way to achieve sustainable growth.
It also proposed the creation of a $50 million microloan fund for Cuban citizens who want to open small or medium businesses.
In addition, it assessed the recent economic reforms undertaken by the government of Raul Castro "to allow greater private economic activity to reduce government expenditures, increase productivity and raise wages."
In September 2010, Havana announced the elimination of up to 1.3 million jobs at state-run companies and the creation of 178 new categories of self-employment.
The paper pointed that, if fully enacted, these reforms will constitute the most far-reaching economic remodeling in Cuba in half a century.
Set as favorite
Bookmark
Email this
Hits: 279
Comments (0)
Subscribe to this comment's feed
Write comment
