Business & Economy

Between 40 and 45 percent of economic activity in Cuba will shift to the non-state sector in the next five years, predicted Esteban Lazo, a vice president of the Cuban Council of State.

Cuba is placing its bets on health service exports, tourism and other fields such as academics and computer sciences – sectors which today generate 70 percent of the national income.

The oldest hydroelectric plant in Cuba is reaching its centenary as it goes through a renovation effort that will make it the largest generator in western Pinar del Rio province.

More than $48 million in contracts have been negotiated at the ninth International Construction Fair, which will be open through Saturday at the Havana PABEXPO center.

Starting today, the US State Department will begin charging new, consular fees for visa applications, reported the Washington’s Interests Office in Havana on Wednesday. The measure is worldwide at all US consulates.

Cuban authorities convened a court hearing this past March to liquidate the real property assets of Chilean businessman Max Marambio in his absence.

A total of 36,452 Cubans became permanent US residents in 2011, which makes this the sixth largest national group among those who have managed to legalize their immigration status in that country.

The Mexican state-owned oil giant, Pemex, moved closer to Cuban waters on Wednesday after talks held between presidents Felipe Calderon and Raul Castro.

Oil and gas production in the island’s Exclusive Economic Zone in the Gulf of Mexico is likely to increase substantially, said a specialist from the Ministry of Mines and Energy Cuba, speaking on Tuesday at the Havana Convention Center.

As of February, the number of self-employed workers in Cuba reached 371,200 workers, according to statistics from the Ministry of Labor and Social Security. The most common are those engaged in food preparation and food sales, which represent a sixth of the total number of small business operations.