October
30, 2003
Ford: automotive
industry plans to increase production and investments
next year
(Multipuerta.com, reproduced
by Conapri's newsletter: Invest Venezuela No 37)
- Ford Andina President Emmanuel Cassigena said
that "Ford Motors de Venezuela has doubled
its local vehicle production this year and is
exporting a large part of its new models to the
Andean market. We are planning new investments
in our Valencia plant next year to continue increasing
our exports. We visualize growth in the industry
and are planning to invest in the launch of new
locally assembled products."
Cassigena
was speaking after meeting with Maigualida Angulo,
member of the Foreign Exchange Administration
Commission (CADIVI). In a press statement, CADIVI
said that according to the President of Ford Andina,
the automotive industry has been gradually recovering.
The 62,000
units produced in Venezuela this year are expected
to rise to 95,000 units in 2004, which means more
applications for foreign exchange and the need
for speedy delivery of dollars.
