Deputy Minister of Economy addresses challenges of Cuban business system
- Written by Yanela Ruiz González
- Published in Holguin
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Photos: Alexis del Toro
Yohanna Odriozola Guitart, Cuba’s Deputy Minister of Economy and Planning, addressed the main challenges facing the Cuban business system in the current context, during the III Business Fair taking place from April 24 to 26 in the city of Holguín.
She emphasized that the essential role of the business system is to produce goods and services to generate wealth, which the State redistributes through universal services.
However, the country is experiencing a difficult scenario with a decline in Gross Domestic Product, affecting sectors such as agriculture, fishing, and manufacturing, so the need to seek alternatives and take advantage of every opportunity to increase production based on local potential, productive linkages, and the application of science and innovation
In this regard, she emphasized: "We have a social commitment to education, health, culture, sports and to the most vulnerable, which are only sustained if there is economic growth”.
This situation requires seeking alternatives based on local potential, productive linkages, and the application of science and innovation. She also highlighted the need for freely convertible currency to import essential inputs and machinery.
A major challenge this year is to increase external income through exports and international collaboration, especially in food production.
Odriozola Guitart offered some data recorded by the National Office of Statistics and Information (ONEI), to analyze how much more can be achieved with the economic actors in the territory to reverse the situation of the 26 entities operating at a loss and stressed the importance of preventing others with low revenues from declining.
Another important challenge is the demographic impact on local development, with a decreasing population due to low birth rates, emigration, and aging, factors that must be considered in territorial development strategies.
This event was attended by Joel Queipo Ruiz, member of the Central Committee and First Secretary of the Party in Holguín, and Manuel Hernández Aguilera, Governor, presidents and mayors of the municipalities, and guests from the province of Granma.
The business fair serves as a platform to seek new business opportunities, strengthen existing ones, and bolster the regional economy.
