Foreign exchange control curbs telecom investment

The Venezuelan Chamber of Telecommunications Service Suppliers (Casetel) welcomes the possibility of having a meeting with the National Assembly's Committee on Administration and Services to assess the sector status.

"It would be interesting if they call us," said José María de Viana, who is Casetel's president.

Venezuelan deputy Claudio Farías said a few days ago that the National Assembly's committee is going to summon mobile phone companies (Movistar, Digitel and Movilnet) to know the reasons why there have been some failures in telecom platforms.

As far as De Viana is concerned, the meeting would enable companies to present the point of view of the telecom sector. In his opinion, foreign exchange control has restricted investment.

The businessman leader acknowledged that mobile phone companies have invested 1 USD billion a year.