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Cuba is making a big step toward capitalism

Tuesday, May 24, 2016 21:25

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HAVANA (AP) — Cuba announced Tuesday that it will legalize small- and medium-sized private businesses in a move that could significantly expand private enterprise in one of the world’s last communist countries.

Cuban business owners and economic experts said they were hopeful the reform would allow private firms to import wholesale supplies and export products to other countries for the first time, removing a major obstacle to private business growth.

“This is a tremendously important step,” said Alfonso Valentin Larrea Barroso, director-general of Scenius, a cooperatively run economic consulting firm in Havana. “They’re creating, legally speaking, the non-state sector of the economy. They’re making that sector official.” …. http://www.businessinsider.com

Source: http://luismmx.blogspot.com/2016/05/cuba-is-making-big-step-toward.html

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