Cuba to allow some joint ventures between state, private sectorHAVANA, March 4, 2026 (BSS/AFP) - Cuba on Tuesday authorized partnerships between public and private companies for the first time in nearly 60 years, though the communist government will maintain a state monopoly in the health, education and defense sectors. These new entities will have business autonomy and can determine the number of employees and their salaries. With the state facing difficulties in obtaining foreign currency and an ongoing economic crisis stoked by the tightening of the US embargo, the private sector has gained ground in recent years. By 2025, the country's approximately 9,900 private companies represented 15 percent of GDP and employed more than 30 percent of the active population. That same year, private-sector retail sales surpassed those of the public sector for the first time, representing 55 percent of total trade.

Source: Bangladesh Sangbad Sangstha March 04, 2026 03:50 UTC