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WHY TO INVEST IN VENEZUELA?

Opportunities for investment and trade in Venezuela are abundant. Venezuela’s geographic location, the diversity of its natural resources, its modern infrastructure, its skilled labor, and its present and future economic prospects make it a natural candidate for companies in search of international investment opportunities which guarantee long term profitability. The sectors with the greatest prospects for investment in Venezuela are: tourism, natural gas, petroleum, chemicals and petrochemicals, mining, food products and information and communications technologies. 
More Information: www.conapri.org/English

The Constitution of the Bolivarian of Republic of Venezuela is aligned with international principles that regulate investment among which the following are highlighted:

  • Non-discrimination between national and foreign investor.
  • Free competion.
  • Prohibition of monopolies.
  • Recognition and protection of intellectual property
  • Transparency of the judicial and administrative sectors.
  • Guarantee of legal security.
  • Guarantee of the right to make use of and freely enjoy property.

"The State reserves to itself the use of trade policy to protect the economic activities of public and private Venezuelan enterprises. Business enterprises, organs or persons of foreign nationality shall not be granted with regimes more advantageous than those established for Venezuelan nationals. Foreign investment is subject to the same conditions as domestic investment."
Article 301 of the Constitution.

"The economic regime of the Bolivarian Republic of Venezuela is based on the principles of social justice, democratization, efficiency, free competition, protection of the environment, productivity and solidarity, with a view to ensuring overall human development and a dignified and useful existence for the community. The State, jointly with private initiative, shall promote the harmonious development of the national economy, to the end of generating sources of employment, a high rate of domestic added value, raising the standard of living of the population and strengthen the economical sovereignty of the country, guaranteeing the reliability of the law; the solid, dynamic, sustainable, continuing and equitable growth of the economy to ensure a just distribution of wealth through participatory democratic strategic planning with open consultation."
Article 299 of the Constitution.

"Monopolies shall not be permitted. Any act, activity, conduct or agreement of private individuals which is intended to establish a monopoly or which leads by reason of its actual effects to the existence of a monopoly, regardless of the intentions of the persons involved, and whatever the form it actually takes, is hereby declared contrary to the fundamental principles of this Constitution. Also contrary to such principles is abuse of a position of dominance which a private individual, a group of individuals or a business enterprise or group of enterprises acquires or has acquired in a given market of goods or services, regardless of what factors caused such position of dominance, as well as in the event of a concentration of demand. In all of the cases indicated, the State shall be required to adopt such measures as may be necessary to prevent the harmful and restrictive effects of monopoly, abuse of a position of dominance and a concentration of demand, with the purpose of protecting consumers and producers* and ensuring the existence of genuine competitive conditions in the economy. In the case of the exploitation of natural resources which are the property of the Nation or the providing of services of a public nature, on an exclusive basis or otherwise, the State shall grant concessions for a certain period, in all cases ensuring the existence of adequate consideration or compensation to serve the public interest."
Article 113 of the Constitution.

"Cultural creation is free. This freedom includes the right to invest in, produce and disseminate the creative, scientific, technical and humanistic work, as well as legal protection of the authors rights in his works. The State recognizes and protects intellectual property rights in scientific, literary and artistic works, inventions, innovations, trade names, patents, trademarks and slogans, in accordance with the conditions and exceptions established by law and the international treaties executed and ratified by the Republic in this field."
Article 98 of the Constitution.

"The right of property is guaranteed. Every person has the right to the use, enjoyment, usufruct and disposal of his or her goods. Property shall be subject to such contributions, restrictions and obligations as may be established by law in the service of the public or general interest. Only for reasons of public benefit or social interest by final judgment, with timely payment of fair compensation, the expropriation of any kind of property may be declared."
Article 115 of the Constitution.

 

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