site.btaCuba Wants to Draw on Bulgarian Experience in Restructuring of State-owned Enterprises

Cuba Wants to Draw on Bulgarian Experience in Restructuring of State-owned Enterprises

Havana, November 7 (BTA) - Cuba wishes that Bulgarian experts would consult the country in the process of restructuring of state-owned enterprises. This transpired at a meeting between Bulgarian Economy Minister Bozhidar Loukarski and Vice-President of the Council of Ministers and Minister of Economy and Planning Marino Murillo Jorge in Havana, Loukarski's Ministry said.

Jorge familiarized his Bulgarian counterpart with the concept for the updating of the economic model and the Cuban government's programme for phased reforms in the country. These include greater independence of the private sector and restructuring of the state-owned enterprises in order to achieve higher efficiency.

Minister Loukarski presented the Bulgarian experience in the restructuring and privatization of the state-financed sector. Owing to privatization, a large part of the state-owned companies in the country have gone into private hands, while the inefficient enterprises were closed down, said he.

The Bulgarian Minister said Bulgaria is ready to help with expertise in the restructuring of the Cuban economy.

Within the visit, the Bulgarian company, Stroitelna Mechanizatsia [Construction Equipment], signed a Memorandum of Understanding with the Cuban Institute for Hydroresources to launch a project on the replacement of the water supply system of Old Havana using a trenchless technology.