September 23, 2004
Unctad: Favorable perspectives for international investments in Venezuela
(El Universal) - (…) The Venezuelan Council for Investment Promotion (Conapri) and the World Investments Report 2004, issued by the United Nations Conference on Commerce and Development (Unctad) coincided that perspectives for short term international investments would be favorable for Venezuela.

(…) Mercedes Briceño, Executive Director of Conapri and the official of the United National Programme, Carlos Sánchez, observe a positive tendency for Venezuela in 2004.

Briceño considered that "the economic recovery of China and India, countries with 40% of the world population, will turn in more demand of commodities and Venezuela will benefit of these circumstances due to its important role as exporter of iron, steel and oil ".

In the meantime, it was assured that the areas of manufacture and telecommunications will continue attractive for the international capital flow in the next years. Added to this will be the increasing interest in the gas industry due to the opening of the sector, as well as mining and the electric service. Areas, which have which count with great opportunities of attracting capitals.

FDI in Latin America and the Caribbean registered in 2003 the lowest annual figure since 1995, as a result of the negative behavior in 19 of the 40 economies that conform the region (…).

Brazil and Mexico remained as the main recipients, but in 2003 the flowings towards these two countries decreased to $ 10.1 billions (-39%) and $ 10,8 billions (-26%) respectively (…)

Briceño pointed out that in spite of the results of Brazil and Mexico marking the regional panorama, Chile and Venezuela achieved main recoveries. FDI in Chile from $ 1,9 billions to $ 3 billions, which represents an increase of 57,89%. In Venezuela, the increase was from $ 1,4 billions to $ 2,5 billions (79%) according to Unctad (…)".