I didn't see this posted earlier - I apologize if it was:

Reduced foreign investment in Guyana
Thursday, August 28, 2008

Industrialists say that the government seeks the seizure of productive sectors in the country, seeking to monopolize the market and stifling private enterprise.


Faced with the alleged expansion of the portfolio in domestic procurement of goods and services, business and industrial unions in the private sector not only care about the fate of its capital, but the gradual reduction of foreign investment in several states.

In the case of Bolivar, presidents and representatives from various Chambers of Commerce and Industry, as well as various institutions of industrial guild, which have since received several years, foreign capital has declined considerably by not seeing "profitable" to invest in Venezuela, stating that the conditions are not given.

The Chamber of Commerce Caroní (Camcaroní), through his spokeswoman, Nancy Gomez vice president, said that entrepreneurs have seen with great concern that the state of Bolivar does not have major investments of foreign capital.

"This is in sight, national surveys reflect this. How will be possible that Venezuela is the last country with a rate of 0.6% of foreign investment. Entrepreneurs from elsewhere do not invest in our country because they believe that conditions are ripe and prefer not to move to countries such as Colombia, Panama or Mexico, "he said.

Threat of nationalization

Likewise, Gomez said that many foreign businessmen "do not invest because they feel that violates the right to private property" and therefore moved its capital to other destinations as far guard their interests.

"The few that are transnational in the country living with the uncertainty of nationalization, expropriation of threats and intimidation of some laws. How do these companies to extradite their profits under control exercised by the State. In Bolivar saw as the company Cemex was expropriated by the National Executive himself as companies who were working in the Orinoco Strip who were forced to leave the country. "

Camcaroní also the vice president said that currently the national government has been creating strategic alliances with countries that have a political system similar to the socialist execrable other nations interested in investing.

"Strategic alliances seeks the same National Executive, and with the new laws enabling employers can not export their products to other nations but only to countries with which Venezuela has signed international conventions".

Who's next?

The company takeovers by the state, increases the feeling of legal uncertainty and lack of protection of existing investments in Venezuela, according to experts.

Currently, according to figures issued by the National Council of Investment Promotion of Venezuela (Conapri) among the major foreign companies who have investments in Venezuela highlights Nestle and Cargill in the food industry, the telephone Spanish Movistar, Pfizer and Merck pharmaceutical laboratories, General Motors and automotive subsidiary of the Spanish Banco Bilbao Vizcaya.

http://www.eldiariodeguayana.com.ve/...