fecha CARACAS, Monday September 15, 2008 | Update
Economy
Obstacles to get foreign currency and import inputs have
changed the operation patterns of some Venezuelan franchises.
According to Alfonso Riera, Venezuelan Franchise Chamber
(Profranquicias) Director, although one of the goals of such
trade is to purchase local commodities, the reality shows
that for some franchisees imports substitution is not easy.
Franchises linked with the food sector and services such
as dry cleaning are the most dependent on goods not manufactured
in Venezuela. Therefore, they have had to improvise ways to
overcome the paperwork delays at the Foreign Exchange Management
Committee (Cadivi) and the Ministry of Light Industry and
Trade (Milco).
Karen Armando Cohen, the Director-General of Wendy's, said
that the company has made "additional efforts" in order that
the import substitution policy sponsored by the Venezuelan
government does not imply shortages or deteriorated quality
of their products.
05:09 PM. Economy. If any country has cashed in on the Bolivarian revolution, that is Brazil, particularly the private companies of the southern neighbor. Over the past five years, it has been awarded contracts for works to be carried out in Venezuela for over USD 14 billion. This puts it as the first recipient of government-to-government contracts, that is, without bidding, since Hugo Chávez took office.