Entrepreneurs reject threats by government officials

A total of 195 businesses has been seized in 2010

Carlos Larrazábal, the president of the Venezuelan Confederation of Industries (Conindustria), said that the accusation that Venezuelan businessmen have monopolies and oligopolies is just an “excuse” to seize “any company deemed necessary by the government for its political project”

Entrepreneurs made an appeal to observe the Constitution (File photo)

Economy
The Venezuelan Confederation of Industries (Conindustria) rejected recent expropriations by the Venezuelan government, as well at the threats of government officials to several private companies.

Upon the seizure of the motor lubricants company Venoco and Fertinitro, a producer of nitrogen fertilizer, the number of confiscated companies rose to 195 in 2010.

"We strongly reject these new threats of expropriation. We have witnessed, along with all the Venezuelan people, that this attack on private property in the past five years has only brought about more scarcity, unemployment, inflation, and has reduced the purchasing power of the (Venezuelan) population," the president of Conindustria said.

Roberto Deniz
EL UNIVERSAL

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