April 13, 2005
Venezuela and China partners in computer venture

(BNamericas.com) - "Venezuela's trade and industry ministry, science and technology ministry and Chinese hardware provider Land Chao Group have signed a letter of intent to jointly create a Venezuela-based company that will produce, assemble, commercialize and export laptops and PCs, the government said in a statement.

The plan is to launch the company within six months, during which the government will have to develop a supply chain network for delivery of locally made hardware components and software.

The letter of intent also recommends a feasibility study to determine the real possibilities to create the company and establish strategic alliances that would benefit both countries.

Meanwhile, Lang Chao Group plans to offer its technological knowledge through training and certification of Venezuelans in areas such as engineering, computer manufacturing, research, development and maintenance.

All parties involved in the project have agreed to create a technical committee within 30 days to manage the feasibility study. The same committee would be in charge of identifying all requirements and legal procedures needed to launch the company".