Venezuela. The government of President Hugo Chávez will reduce imports of raw materials derived from oil in order to strengthen the domestic market with the substances produced in the country, strengthening the development of small and medium industry.This was assured by the president of Pequiven, Saúl Ameliach, to the local newspaper El Universal. According to the bill, called the Organic Law for the Development of Petrochemical, Carbochemical and Phosphochemical Activities, the State will have exclusivity in the production of petrochemical substances. The initiative adds that the activities may be carried out by the government through companies of its exclusive ownership or with mixed companies with a greater shareholding.
"The law is intended to develop the country's industry that depends on petrochemicals. It is not possible for Venezuela to export the fundamental raw material and then enter the country in finished products. For example, a phone shell, which can be manufactured in the country, even food packaging," Ameliach said.
