Rafael Hernández, president of Asocauchos, indicated last week that they expect the sector to reach 70 % of its production thanks to the support of the national government, the reactivation of plants, and foreign investment.

According to Hernández, “this year, this sector is projected to reach 70 % national production, while imports will account for 30 %,” which would represent a reversal of the dynamics this sector has been experiencing; that is, 30 % local production and 70 % imports.

Regarding the reactivation of industrial plants, he highlighted those located in Carabobo state, in the center of the country, and referred to the multinational corporation that has arrived to replace the operations of the former Bridgestone (Black Given) plant.

He mentioned an investment of 28 million dollars and referenced Brazilian, Chilean, and even Bolivian investment.

In addition to addressing issues such as tax protection for the sector and the increase in demand for cars, the president of Asocauchos defended the competitiveness of local manufacturing: “Our tires are considered among the best in the world; our technology is cutting-edge.”

M.Pino

Source: ultimasnoticias

(Reference image source: Robert Laursoo on Unsplash)                 

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The president of the Caracas Stock Exchange, José Grasso Vecchio, indicated during an interview last week that there are positive expectations regarding the stabilization of the Venezuelan economic system.

The executive stated that the institution is receiving numerous calls from investors around the world, which indicates a favorable opening to the national economy.

Local and foreign investment play a fundamental role in the recovery of the financial system, which, according to Grasso Vecchio, is “ready, stable, regulated, and interested in serving as a bridge to channel the flow of investments into the country.”

Regarding the exchange rate gap, he indicated that thanks to the easing of sanctions and the opening of the oil sector, a steady influx of foreign currency into the market has been achieved, which helps stabilize the exchange rate, with positive projections for the macroeconomic outlook.

The president of the Stock Exchange advocated for maintaining optimism in the face of the current situation. “It’s a great time to be positive, to support all this economic activity that is coming and that will help guide these results.”

M.Pino

Source: alnavio

(Reference image source: Jose Vazquez on Unsplash)

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The Government of Brazil revealed foreign investment opportunities worth a colossal value of 30.5 billion dollars to diplomats from various nations.

Brazilian authorities are actively searching for investors interested in highway concession projects, with a projected investment of 15 billion dollars; electric transmission, with 8.2 billion; basic sanitation, with 5,000 million; ports, with 1,800 million, and waste management, with 500 million.

These investments will be materialized through concessions with a maximum duration of 30 years, as well as through public-private partnerships, as detailed in the program presented to diplomats in the Brazilian capital, Brasilia.

To attract this important investment, the Minister of the Civil House, Rui Costa, called on the ambassadors present at the event to “collaborate in the dissemination of this news” among companies and investment funds in their respective countries.

Costa stressed: “Our goal is to awaken the interest of every nation, international company and investment fund about all the investment opportunities in Brazil and invite them to be part of this exciting project.” In addition, he highlighted the “firm presence” of Spanish companies in the energy sector.

Minister Costa also pointed to other government projects aimed at accelerating the arrival of foreign companies, such as the creation of a “green fund” to finance sustainable projects and the regulation of a carbon market in Brazil.

K. Tovar

Source: Bancaynegocios

(Referential image source: Raphael Nogueira, Unsplash)

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The Government of Cuba announced a series of new measures to promote foreign investment in wholesale trade, including companies with 100% foreign capital, and through joint ventures in the country’s retail trade, in addition to promoting exports, thus turning to the centralization of economic activities and in response to shortages.

In statements during her speech this Monday in a Cuban public television program, the First Deputy Minister of Foreign Trade, Ana Teresita González Fraga, and the Minister of Internal Trade, Betsy Díaz Velázquez, indicated the possibility of wholesale trade companies with foreign participation majority, while in retail trade joint ventures will be promoted.

“We are proposing that foreign investment entities be created to market in the wholesale market,” announced the deputy minister

In this regard, Díaz Velázquez pointed out that it is intended to develop wholesale trade and, exceptionally, retail trade with foreign investment, with the aim of attracting financial resources, advanced management methods, technologies and marketing techniques.

In this way, the new measures seek to eliminate the exceptional nature of the participation of foreign investment in retail trade, in which a state market will prevail, for which “it will not be an open retail trade, but neither will it be restrictive as it was established so far”.

Likewise, regarding wholesale trade, the minister stressed that, from now on, in addition to the usual modalities of joint ventures and international economic association contracts, with a common fund or by service, it will also be evaluated that there is “a participation of wholly foreign-owned companies.

K. Tovar

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Source: BBC

La entrada Cuba authorizes foreign investment apareció primero en Bitfinance.

Foreign direct investment from Latin America and the Caribbean fell by 34.7 %, representing a loss of 56,000 million dollars and the lowest level in a decade, according to a new report by the Economic Commission for Latin America and the Caribbean United Nations (ECLAC).

Specifically, investment in the Latin American region was 105,480 million dollars during 2020, which is equivalent to 2.5 % of the Gross Domestic Product (GDP). By 2021, Cepal estimates this will grow between 10% and 15 % globally. In Latin America, the projection ranges from a 5 % decline to a 5 % advance.

By region, Central America accounted for the bulk of investment losses, with a drop of 89.4%, while in the Caribbean the contraction was 25.5%.

For the executive secretary of Cepal, Alicia Bárcena, the data represents a “big drop”, a trend that had already been decreasing since 2013.

“Foreign direct investment made relevant contributions in Latin America and the Caribbean, but there are no elements that allow us to affirm that in the last decade it has contributed to significant changes in the productive structure of the region or that it has served as a catalyst for the transformation of the model of productive development”, assured Bárcena.

In this context, the executive secretary is committed to a multilateral strategic approach to position the interests of the region and that investment flows contribute to sustainable development.

K. Tovar

Source: Xinhua

La entrada In 2020 Latin America lost 56,000 million dollars apareció primero en Bitfinance.