Cuban President Miguel Diaz-Canel has announced a series of reforms aimed at liberalizing the island's economy, including greater freedoms for small businesses and streamlined approval processes.
The communist government is under pressure from a crippling US blockade, and the new measures are designed to open up the economy to private investment.
Private businesses, which can employ up to 100 people, have become an increasingly important part of Cuba's economy since being authorized in 2021.
As part of the new measures, the government will enable private businesses to invest on equal terms with foreign investors, and is also considering scrapping state intermediaries in import and export operations.
The president reiterated his commitment to decentralizing the economy and granting greater autonomy to state-owned enterprises, which account for roughly 80 percent of economic activity.
The reforms are part of a broader effort to overhaul the state bureaucracy and reduce the number of ministries and the state workforce.
