Cuba permits state and private companies to form mixed-ownership ventures

Cuba now allows state and private companies to form mixed-ownership ventures for the first time in nearly 60 years. The new decree permits these joint ventures to have business autonomy, set employee numbers and salaries, and operate domestically and internationally, excluding health, education, and defense sectors. This move follows Cuba's 2021 authorization of small and medium-sized private businesses and reflects the growing private sector's economic importance amid ongoing crises.