Chinese companies interested in Venezuela’s oil, mining industries

Photo: AVN
Chinese companies interested in Venezuela’s oil, mining industries

Venezuela’s Vice President for Planning and Knowledge, Ricardo Menendez announced Thursday that Chinese companies showed great interest in participating in the development of the petrochemical, mining and oil sectors of Venezuela.

“The economic development issues raised by President Nicolas Maduro, such as petrochemistry, oil, gold, show a clear preference by Chinese enterprises,” said Menendez, who completed a week-long visit to Beijing, accompanied by the Minister of Oil and Mining, Eulogio Del Pino and Vice Minister of Investment and Development, Simon Zerpa.

The agenda of this high-level delegation began last Monday with meetings with representatives of the Chinese National Development and Reform Commission, China Development Bank and more than 50 businessmen from the Asian giant.

As a result, mechanisms were agreed to provide, in the short-term, food and medicines that will arrive in Venezuela as part of the supply agreements that also include industrial inputs so required at this time of plunging oil prices and economic war.

In this sense, Menendez said that “the economic war against our country has not undermined the international vision about the conviction of the model Venezuelans have sovereignly decided.”

He added that the working visit was successful because it help ratify China’s confidence in the economic model of Venezuela and the Bolivarian Economic Agenda, which establishes 14 development engines and that has been described by Menendez as a roadmap for productive national development.

“We have had a profoundly successful agenda, the instructions given by President Maduro have been met and especially one of the fundamental processes that must be conceived in Latin America and in Venezuela, is that the revolution, the vision of transformation of our peoples, it has precisely the conviction that we will conquer this roadmap and nothing will remove the vision that our peoples have the right to be happy,” he said.

Furthermore, as a chairman of the China-Venezuela High-Level Joint Commission, he stated that “we have worked on specific subjects with the National Development and Reform Commission and the Development Bank of China, but at the same time with different companies, some of them already installed in Venezuela and some others that have seen an extremely important attraction to come to our country.”

In this regard, Minister for Oil and Mining, Eulogio Del Pino highlighted the legal framework created by the Bolivarian Revolution to encourage foreign investment and thereby, promote more efficiently the new production system to end the oil rentier model.

“It’s a new model that is feasible due to the enactment of new laws in Venezuela or reforms of existing laws that facilitate international investment, especially in such key sectors of the economy as mining and petrochemicals, because it diversifies traditional hydrocarbon sector,” he said in statements to Telesur station.

Last Wednesday, the Venezuelan delegation showed in the Bolivarian Economic Agenda forum: Engines of Future, the potential of the 14 sectors of development designed by the Government to consolidate a productive and diversified economy.

At this forum, which exceeded the goal of assistance of more than 50 Chinese entrepreneurs, it was evaluated to include the Asian giant in the areas of oil, industrial, petrochemical development and mining of Venezuela.

The Venezuelan agenda also included a meeting on Monday with President of the National Development and Reform Commission Chairman Xu Shaoshi, and Vice President of this instance, Ning Jizhe where productive partnerships were proposed in the pharmaceutical, industrial, petrochemical, oil, mining, forestry and tourism area.

The Venezuelan delegation was sent by President Nicolas Maduro, to show in China the potential of the engines of the Economic Agenda, devised for the construction of a new economic model that breaks with the oil rentier model.

Source/ AVN

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