On August 26, 2026, Cuban President Miguel Díaz-Canel Bermúdez convened a landmark meeting with private sector representatives from across the island nation’s key economic sectors, cementing a new commitment to sustained, open engagement with the full spectrum of Cuba’s business ecosystem – encompassing both state and non-state management models.
Accompanied by senior government and labor leaders, including Organization Secretary of the Central Committee Roberto Morales Ojeda, Deputy Prime Minister Oscar Pérez-Oliva Fraga, and Cuban Workers’ Federation Secretary General Osnay Miguel Colina Rodríguez, Díaz-Canel framed systematic dialogue as an indispensable foundation for collective national progress. “We cannot deliver the transformative change our country needs without open, consistent communication,” he told attendees drawn from food production, agriculture, energy, transportation, legal services and other key industries. “Without regular dialogue, we cannot align our perspectives or build the consensus required to move forward.”
The core goal of this expanded engagement, Díaz-Canel emphasized, is to align the ambitions of private business leaders with Cuba’s broader national development priorities, creating a mutually beneficial framework that drives sustainable growth amid what he described as an exceptionally complex global and domestic context. “What we are building is a system that ties your aspirations as entrepreneurs to the aspirations of the entire Cuban people, combining these goals to deliver shared prosperity,” he said. “This is how we build the momentum the country needs to deliver the better standard of living our citizens deserve.”
During the meeting, the president laid out clear policy priorities for all economic actors, calling for aggressive expansion of domestic production of food, consumer goods and essential services, sharp reductions in wasteful unproductive costs and decreased reliance on imported finished goods. He also stressed the critical need to integrate new technology, specialized knowledge and innovative practices across all sectors of the economy.
Díaz-Canel stressed that all economic entities – regardless of ownership model – must align with Cuba’s territorial development strategies and national development plan. He used the energy sector as a clear example, noting that both state-owned enterprises and private companies have defined roles to play, and that these contributions must be measurable in tangible outcomes: from energy generation output to job creation and increased national revenue.
The president also issued a firm rebuke of unethical and illegal economic practices that harm Cuban communities, arguing that legitimate profit must be earned through effort, high productivity, efficiency, innovation and calculated risk – not through speculation, price gouging or exploitation of consumers. He warned that the non-state sector must not become a haven for illegal activity, tax evasion, corruption, hoarding or price fixing that is disconnected from the needs of working people. He specifically called out the harmful practice of refusing bank transfers, announcing that the government will continue its crackdown on the practice until it is fully eliminated.
In redefining how success should be measured for all economic projects, Díaz-Canel argued that profitability alone should not be the sole metric of impact. “We should not judge a project’s value only by what ends up in a bank account,” he explained. “We must measure it by what it puts on a family’s table, what jobs it creates for young people, what opportunities it gives talented Cubans to build their lives here at home, how it improves local communities and drives municipal development, and ultimately how it strengthens our national sovereignty.”
Díaz-Canel closed the meeting by reaffirming Cuba’s commitment to continuing its economic and social transformation, emphasizing that the process will always center on elevating the voices of all stakeholders and prioritizing the well-being of the Cuban people and long-term national development.
During the discussion, participating private sector leaders shared on-the-ground insights from their work, highlighting persistent biases and operational obstacles at the middle management level, many of which stem from limited understanding of the 176 recently approved economic and social reforms. Attendees also presented new business initiatives, outlined community-focused social programs their enterprises are implementing, and shared key priorities – including the transition to new energy sources to prevent disruptive production shutdowns. They closed by reaffirming their commitment to the national collective effort, calling for full integration into Cuba’s unified business network as the country works to advance shared progress.