Cuba is accelerating its transition to a free-market economy with the 176-article reform package adopted in parliament on June 20. Under the package, energy, pharmaceuticals, nursing homes, passenger and cargo terminals, port facilities, vehicle imports, renewable energy, and, under certain conditions, oil and mining activities will be opened to private sector investment.
New regulations in agriculture and housing
During the parliament's regular session, draft laws on agriculture, housing, administrative restructuring and labor law will also be discussed. In agriculture, land will remain state-owned, but usage rights granted to domestic and foreign farmers, cooperatives and private companies will be expanded.
In housing, Cubans will be allowed to acquire a second home in cities, and a mortgage system will be introduced for the first time in the country.
Strategic sectors to remain under state control
The Cuban government will continue to keep strategic sectors such as health, education, mass media, telecommunications, security, defense and the tobacco industry under state control.
110 measures already in effect
Prime Minister Manuel Marrero announced in a speech to parliament that 110 of the 176 measures approved in June have begun to be implemented, and the remaining regulations will take effect from September.
Marrero stated that more than 100 non-state actors have been authorized for the wholesale trade of fuel. He also said the first foreign investment project for the import, distribution and marketing of fuel has been approved.
According to officials, more than 15,000 small and medium-sized enterprises (SMEs) operate on the island, employing more than a third of the active population.
The National Assembly of People's Power (ANPP) adopted the reform package on June 20, which includes liberalization and decentralization steps in the country experiencing one of the deepest economic crises in recent decades.
