A recent leak of internal documents from the military conglomerate GAESA (Business Management Group of the Armed Forces) has disclosed in detail the business network controlled by the Cuban military, covering strategic sectors such as tourism, commerce, construction, transportation, banking, and real estate services, among others.
The investigation, published by journalist Nora Gámez in El Nuevo Herald, reveals how GAESA operates as a parallel economic structure to the State, with dozens of companies organized under various legal forms - from state-owned enterprises to international economic associations and small and medium-sized enterprises, many of which operate under the radar and without transparency.
An opaque business network centralized among the military
According to documents obtained by the newspaper, including internal financial statements and corporate presentations, GAESA maintains a highly diversified business network that operates discreetly both inside and outside of Cuba.
Together, these companies allow the military to control everything from tourism and remittances to food imports and oil sales.
The conglomerate includes traditional state-owned enterprises, but also entities registered in tax havens and new small and medium-sized enterprises (mipymes), which may appear to be private legally, but are under direct or indirect control of the military apparatus.
Although some of these companies were publicly known, many had not been previously identified as part of GAESA until the release of the leaked documents.
Three types of companies under GAESA
The documents classify entities into three groups: international economic associations, state-owned enterprises, and SMEs. Below, we present the list of the mentioned companies:
1. International Economic Associations
These entities operate under agreements with foreign partners, in mixed modalities or through service contracts
Monte Barreto: Real estate company owner of the Miramar Trade Center complex in Havana, in partnership with Ceiba Investments Ltd., registered in the Island of Guernsey.
Azul Inmobiliaria: Manages condominiums in partnership with the Italian company BD International.
Caribbean Hotel Logistics (LHC): Based in the Mariel Special Development Zone, it supplies hotels in Cuba with food and supplies.
2. State-owned companies controlled by GAESA
These are traditional entities of the public sector that operate directly under the military structure:
-Complex of Historical Military Museums: manages places such as the Museum of the Revolution and the forts of El Morro and La Cabaña.
- Ecasol Oil Marketing: specialized in the sale of cooking oil.
- Marina General Services Company: no public data available.
-Integrated Project Management of Mariel: manages infrastructure projects in Mariel.
- Almest Real Estate Company: engages in hotel investments.
-TRD-Caribe: one of the leading chains of stores that accept freely convertible currency (MLC).
-Aerogaviota S.A.: an airline focused on national and international tourism.
- Almacenes Universales S.A.: manages logistics operations, particularly at the Port of Mariel.
- Corporación Antex S.A.: hires doctors and manages businesses in Angola.
-Cubagro S.A.: importer/exporter of agricultural products.
-Exploration and Extraction of Oil and Gas S.A.: possibly linked to the former CUPET.
-Gaviota Tourism Group S.A.: the main tourism company in the country, the epicenter of the hotel sector in foreign currency.
Caribe S.A. Real Estate offers rentals in prime locations in Havana.
-Servicios Marítimos S.A.: its activities are related to port operations at Mariel.
-Servicios Automotores S.A.: sells cars and spare parts.
-Auditing Services S.A.: headquartered in Miramar, Havana.
-Aries S.A.: operates the cruise terminal at the port of Havana.
-Tecnoimport: an importing company with a history of international lawsuits.
-Cementos Moncada: new cement plant in Santiago de Cuba, announced as an investment project in 2021.
3. SMEs linked to GAESA
Although the Cuban government promotes small and medium enterprises (mipymes) as part of an "economic opening," these documents reveal that some operate under the umbrella of TRD Caribe, indicating their direct connection to GAESA:
-Importing Agency Caribbean Surl (TRD).
-Advertising Grafo Caribe Surl (TRD).
Both are registered as micro, small, and medium enterprises (mipymes), but they are part of the ecosystem of commercial businesses linked to the stores in MLC.
The CIMEX Case: Commercial Power in Military Hands
One of the names that stands out the most in the documents is CIMEX, the largest holding of the military conglomerate.
This corporation controls businesses in key areas of the economy: shops, banks, gas stations, logistics companies, cafés, real estate, and even technology.
In 2020, CIMEX operated 668 gas stations across the country and was made up of 41 companies, according to an internal report cited by El Nuevo Herald.
Among the companies listed under Cimex are:
-Cimex Mariel: producer of Cubita and Caracolillo coffee.
-Fincimex: manages remittances and international cards.
Cimex S.A. Real Estate
-Zelcom S.A.: a free trade zone near Havana.
-Residencial Tarará S.A.: dedicated to property rentals.
-Aster S.A.: a technology company with a presence on social media.
Additionally, Cimex's legal director, Mali Suris Valmaña, revealed in a court statement that Cimex belongs to Corporación CIMEX, S.A., registered in Panama, which confirms the use of offshore structures to manage state assets outside of national and international scrutiny.
Sanctioned companies… and others that have not yet been sanctioned
GAESA and several of its companies—such as Cimex, Fincimex, and Gaviota—are sanctioned by the United States government due to their connection with the Armed Forces and their role in the repression of the Cuban people.
However, other companies mentioned in the documents have not yet been sanctioned, which could allow them to continue operating with relative freedom abroad or through intermediaries.
The leak of these documents confirms that the Cuban economy is deeply militarized, with dozens of key companies under the direct control of the Ministry of the Revolutionary Armed Forces, through GAESA.
From hotels to gas stations, including real estate, airlines, financial services, and exports, the military is at the forefront of most of the productive apparatus in Cuba.
This model of centralized and opaque control has allowed a small group to concentrate economic and political power, while the majority of the population faces one of the worst humanitarian crises in decades.
The existence of "private" micro, small, and medium enterprises within the military framework and the operation of companies in tax havens are evidence of a system designed to safeguard the regime's economic control, even amid sanctions and internal collapse.
The investigation by the Herald, based on 22 leaked internal financial documents from 2023 and 2024, also revealed that the Cuban military controls over 18 billion dollars in liquid assets, which is more than the international reserves of countries like Panama or Uruguay.
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