HAVANA, Cuba — Cuba is moving ahead with a major restructuring of its business environment as new economic regulations begin opening additional opportunities for private companies, foreign investors and the tourism sector.

The reforms form part of a wider package of 176 economic and social measures approved by the Cuban Government, with several key changes now entering into force.

One of the most significant developments is the authorization of private companies with more than 100 workers, expanding beyond the micro, small and medium-sized business structures introduced in recent years.

Foreign companies operating in Cuba can also hire employees directly instead of using state employment agencies, while businesses can receive greater flexibility in managing overseas bank accounts and international trade.

The reforms also open the door for Cubans living abroad to participate as partners in private Cuban businesses, potentially creating a new channel for diaspora investment.

Tourism is another major target. New rules allow private companies to establish travel agencies, while investment opportunities are being expanded in areas such as ecotourism and heritage destinations.

The changes represent one of Cuba's most significant moves toward a more market-oriented business environment in decades.

However, businesses still face major challenges, including financial restrictions, infrastructure problems and international sanctions that can complicate investment and trade.

If implemented effectively, the reforms could attract new capital, strengthen private enterprise and create additional opportunities across Cuba's tourism, trade and investment sectors.