Cuba gives state-run companies more autonomy

Posted on Monday, 04.28.14



Cuba gives state-run companies more autonomy

THE ASSOCIATED PRESS



HAVANA -- Cuba has approved several measures giving state-run businesses

more autonomy.



The changes include giving government-run enterprises more leeway to

conduct secondary commercial operations.



For example, a factory that specializes in canned vegetables could get

into a side business such as candy-making or recycling.



Previously, such entities were mostly barred from doing anything outside

of their primary activity.



They will also be allowed to sell any excess goods at market prices.



The measures published Monday in the government's Official Gazette say

state companies can keep up to 50 percent of their profits, 20 percent

more than before.



The changes are the latest in a package of reforms that seek to revive

Cuba's weak economy.



Source: HAVANA: Cuba gives state-run companies more autonomy - Business

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