May 11, 2005
International investment grows in Venezuela in first quarter

(Associated Press) - "International investment grew in Venezuela during the first quarter, reaching US$546 million -- a 220 percent growth compared to the first quarter of 2004, government statistics showed.

Two-thirds of the 1Q investment was made in communications, totalling US$361 million. Investment in the manufacturing industry was next with US$177 million and the rest was made mostly in commerce, according the foreign investment agency Siex.

The biggest investors in Venezuela were Switzerland with US$155 million, the United States with US$62.5 million, France with US$45.9 million, Colombia with US$20.1 million, Bermudas with US$15 million and Germany with US$10 million".