Cuba has unveiled plans to reform its economy, with Prime Minister Manuel Marrero presenting lawmakers with a 176-point package to open up the economy.
The measures did not signify "an abandonment of the construction of socialism, but are a prerequisite for its preservation," Marrero said on Thursday during the presentation of the plan at a special session of the National Assembly.
The reforms presented by Marrero include allowing Cubans to own more than one company, authorizing private banks and permitting foreign investments in the private sector.
Changes in the agricultural and tourism sectors and a restructuring of the state apparatus were also planned.
In the tourism sector, which has been badly hit by a series of US sanctions, the government plans to create new business opportunities, including in areas where investment has so far been heavily restricted, such as Havana's old town and the Los Cayos island chain.
The private sector is to be allowed to buy and sell homes. It is also to become possible for Cuban or foreign investors to buy shares in state-owned companies, although it was initially not disclosed which companies would be covered.
The US government has increased economic pressure on Cuba in recent months through a series of sanctions, seeking to force political and economic reforms on the island. It remained unclear whether the measures submitted for debate in parliament would meet Washington's demands.
Relations between Washington and Havana have been strained since the revolution of 1959 led by Fidel Castro.
