Cuba is taking a new step toward bringing down the taboo of private property. In fact, the government intends to legalize small- and medium-sized enterprises to give a push to the weak economy and to favor more foreign investments.
The proposed law came this week in a 32-page document that illustrates a series of initiatives approved by the 7th Congress of the Cuban Communist Party in April. Particularly, the new opening to private enterprise comes from the committee tasked with “conceptualizing Cuban socialism”: to be transformed into law, it must be approved by the Assembly of People’s Power, the Cuban Parliament, scheduled to meet in July.
In a few months we’ll know the details and the times for implementing such an opening on the market, although all observers agree that it’s an important sign of change. It’s a strengthening in the pragmatic line implemented by Raul Castro which, ever since having been nominated as president in 2008, has aimed toward a drastic reduction of the inflated and non-productive public sector in favor of “new forms of economic management,” both cooperatives as well as private. According to the document, the Cuban government will allow “small stores created by the worker and by his family” and “private enterprises on a small, medium and micro scale.”