(Prensa Latina) - "Venezuelan and Italian authorities began negotiating an industrial development project on Margarita Island, the South American country's main Caribbean tourism destination.

In the meeting, coordinated by the two countries' respective embassies, the two sides dealt with the projected setting up of nine industrial plants on the island, with the participation of the Italian firm PSV.

The Venezuelan embassy in Rome said in a note the joint project aims to contribute to development, improve services for the population, and support the national and insular economy.

The planned industries are chiefly linked to the construction, transportation, and metallurgy sectors.

Venezuelan ambassador in Italy Rafael Lacava pointed out the venture demonstrates Italian businesspeople are interested in investing in the country due to fair operating terms".