Published: Friday, July 10, 2009 Bylined to: El Universal
Saman: Venezuela to approve foreign investments that benefit Venezuela!
El Universal: Hugo Chavez' Administration is working to reform the guidelines that will rule domestic and foreign trade with the purpose to consolidate socialism. The new policies will be implemented in the long term.
Minister of Trade Eduardo Saman said at a business forum that the goal is "to build a socialist trading system that contributes to the productive economic system, promotes social ownership, eliminates exploitation and develops solidarity and complementarity." This involves a set of coordinated policies that are in line with Venezuela's economic development plan 2007-2013. Such plan is aimed at "promoting endogenous development of the productive activity, fostering and regulating an efficient, effective and timely distribution and marketing system (...) ensuring the supply of goods and services in areas of social concern based on the idea of building a fair society in transition to socialism."
Saman added that the plan focuses on five specific guidelines: development of production; social control of the means of distribution; the State's role in setting prices; replacement of consumerism by the satisfaction of social needs; and the geopolitics of trade (foreign trade).
The official introduced to the industrial sector the first goal of the new trade platform: development of production from trade.
One of the items on which the government will focus is foreign investments in Venezuela. According to the Minister of Trade, Venezuela will accept foreign investments that ensure technology transfer to the domestic industrial park. "We have to think and discuss what type of foreign investment we can accept. Not all the foreign investments are favorable nor bring about development, progress and welfare of society. Foreign investments must be oriented toward productive activities."
"We can not let multinationals use Venezuelan natural resources, our work force, exploit workers, pollute the environment, and when conditions are not favorable, leave the country."
The Superintendence of Foreign Investments (SIEX) will be the agency responsible for the enforcement of contracts, the repatriation of capitals and profits from those investments.
The government will foster endogenous development of the productive sector by protecting the domestic industries through the implementation of policies and legal instruments that prevent monopolistic practices in domestic and multinational corporations.
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