Cuban Constitution Ratifies Importance of Foreign Investment

Cuban Constitution Ratifies Importance of Foreign Investment


The Draft Constitution of the Republic ratifies the importance of foreign investment for Cuba’s economic development, ANEC President Oscar Luis Hung said.
In statements to Prensa Latina, the head of the National Association of Economists and Accountants of Cuba (ANEC) pointed out that the document also recognizes the different forms of property that coexist in the country, but it makes it clear that the economic system is based on the socialist property of the entire people.

Add to this the recognition of the role of the market and of new forms of property, including private, in tune with the Conceptualization of the Cuban Economic and Social Model of Socialist Development and the Guidelines of the Economic and Social Policy of the Communist Party and the Revolution.

Likewise, it envisages planning as a key element in the economic system, as well as the workers’ role and participation in this process.

The document shows the nature of planned economy, which does not ignore the market, but it regulates it according to society’s interests.

It highlights the state enterprise as the main subject of the national economy, and it recognizes its autonomy as an essential principle of its functioning. The ANEC is made up of some 79,000 professionals and 1,400 grassroots units in provinces and municipalities, where economists interact with local problems and contribute to their solution.

Hung pointed out that the organization has worked in support of the municipal economic departments and the officials’ training in planning, foreign investment, salaries, payment systems, feasibility studies and other disciplines that are part of their daily work.

He added that the ANEC also contributes to the training non-state workers on juridical norms, value chains and contracts, among other aspects. (Taken from Prensa Latina)

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