Sancti Spíritus State owned enterprise managers to implement economic and social transformations

Implementing measures to strengthen the role of Cuban state owned enterprises as pillars of the economy was the focus of discussions between sector executives and representatives from the newly established Institute of State Business Assets, who were visiting the area.

The meeting served to enhance the preparedness and training of these stakeholders, aiming to reshape the management of these entities in alignment with the socio-economic transformations currently being driven by the country.

Key aspects of strengthening genuine business autonomy—specifically regarding plan formulation, price setting, and the allocation of profits—were addressed. Participants also advocated for better leveraging local government autonomy to link production outcomes with local development.

Emphasis was also placed on the need to boost contributions and sales in foreign currency to support corporate capitalization and drive productivity growth.

Roberto Ricardo Marrero, President of the Institute of State Business Assets, explained that work is underway to establish a legal framework that places state-owned enterprises on an equal footing with non-state actors, enabling them to grow and generate higher profits.