Cuba's government legalizing private businessesMay 25, 2016 - 10:19 AMT PanARMENIAN.Net - Cuba's government has announced that it is legalising small and medium-sized private businesses, BBC News reports. It is the latest stage of reforms begun when President Raul Castro took over from his brother, Fidel in 2008. Raul Castro has been trying to stimulate Cuba's stagnant economy but has faced resistance from Cuban Communist Party hardliners. With the restoration of relations with the US last year, Cuba is also opening up to foreign investment. The government currently allows self-employment in several hundred job categories from restaurant owners to hairdressers. The Cuban economy has been stimulated by many of these becoming small businesses and employing other workers. The latest reforms were published in a 32-page document detailing the party's plan for economic development, and approved by Congress. It did not specify what the new status for "private businesses of medium, small and micro size" would entail. Neither did it mention if businesses would be given additional rights such as the ability to import supplies or export products. But analysts say the new status is a sign of the government's recognition that private enterprises will have a significant role in the future, although the main means of production could remain in the hands of the state. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |