Cuban President Raul Castro presided over a session of the Council of Ministers recently, which considered and adopted policies and measures related to the update of the country’s economic model. Here are excerpts with a link to the full article below:
The issues on the agenda included the portfolio of opportunities for foreign investment, the aging of the Cuban population, the functions of entrepreneurial units, the registration of state facilities, the urban planning of Santiago de Cuba city and accounting activity.
Cuban vice-president Marino Murillo presented the portfolio of foreign investment, an aspect to be at the centre of the upcoming International Trade Fair next month.
The portfolio approved at the session includes 246 projects to be developed with foreign capital, estimated at $8.7 billion, in crucial sectors, such as agriculture and food, construction, the pharmaceutical and biotechnological industry, renewable energy, and others. All these projects are to be implemented in all Cuban provinces.
Also high on the agenda was the aging of the Cuban population, about which Murillo said over the next decades the country will see a trend towards population aging and decrease. This implies, he said, that if such trend is not reversed there will be more deaths than births by 2025 or 2027, with a decrease of the total population in all age groups, except for those 60 years of age and above.
In this respect, the session adopted a policy aimed at encouraging fertility, attending to the growing needs of the older segment of the population, and promoting employment for all citizens able to work.