The Venezuelan government considers some sectors as strategic. Therefore, the nationalization of companies is advancing. In 2007, telecommunications and electricity companies were taken over. Now, the turn is for cement makers and iron and steel companies.

Through special delegations, the Venezuelan government is negotiating to get the majority shareholding of the cement makers owned by Mexico's Cemex, France's Lafarge, and Switzerland's Holcim, as well as Venezuela's iron and steel maker Sidor. The companies' valuation is one of the matters being discussed by the interested parties, due to the fact that the state purports to own 60 percent of the shares.

A report issued by Barclays investment bank on Venezuela's current situation shows that the state could pay 2.9 billion dollars for the nationalizations.