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Govn't has seized 401 companies so far this year in Venezuela [View All]

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naaman fletcher Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-24-11 07:10 AM
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Govn't has seized 401 companies so far this year in Venezuela
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The pace of expropriations has not slowed down. The Venezuelan government has seized 401 private companies so far this year, according to the Venezuelan Confederation of Industries (Conindustria).

"There have been 401 seizures of companies so far this year. This situation creates legal uncertainty; drives investments away; and reduces the possibility of increasing production," Conindustria said in a press release related to the expropriations of private companies Forjas Santa Clara, Tetracero and Cartonajes Granics.

The data provided by the industrial association confirm a sustained increase in expropriations since 2009. "More than 80% of recorded expropriations of private companies by the government have taken place since 2009, at a growing rate," the document said. It also highlighted "that 11 companies have been seized only in August."

http://www.eluniversal.com/2011/08/23/govnt-has-seized-401-companies-so-far-this-year-in-venezuela.shtml

That's 401 companies that will be less productive next year.
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