Cuba to reform state-owned companies in 2014
HAVANA, Jul 08, 2013 (Xinhua via COMTEX) —
Cuba announced on Sunday its readiness to reform state-owned enterprises
in 2014 by granting them more autonomy.
It is necessary to change the rules and remove all the obstacles to the
management system, Vice President Marino Murillo said in the parliament.
“If we don’t transform the socialist state companies positively, we
won’t be able to bring up to date the Cuban economic model,” he said.
The Cuban Communist Party has approved more than 300 guidelines to
upgrade the socialist economic model, he said.
Murillo said that one of the changes is to lift limits over the payment
of wages. Meanwhile, all the state-owned companies will be able to use
50 percent of their profits after tax, which will enable the companies
to recapitalize and make their own investments.
Despite the rising role of the private sector, the state-run companies
will continue to be the most important link in the chain of Cuban
economic model, he noted.
The Cuban vice president said that the purpose of economic reforms is to
build a prosperous and sustainable socialism and achieve a higher level
of satisfaction and happiness among the people.
Source: “Individual.com” –