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Article: Cuban conglomerates setting the pace for island's business.
- Article from:
- Cuba News
- Article date:
- August 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 Luxner News, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In the 1970s, the Soviet Union began to pressure Cuba to become more efficient and to support a greater share of its own costs. In response, the Cuban government began experimenting with different legal structures intended to create entities that would be more commercially-oriented than previous organizations and to allow the flow of limited amounts of foreign investment.
In the 1970s there were just 13 small-scale Cuban sociedades anonimas, (corporations). All of them were located in foreign countries, mostly Western Europe, with the sole purpose of facilitating foreign trade operations, including marketing, shipping and financial transactions. It was only in ...