Daily News > News
Vote




Venezuelan franchising scheme modified by import troubles

The sector is improvising due to the delay in delivery of foreign currency (P. Pérez/ File photo)

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.


On the Cover

Works flying high

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.

 Ranking
  •  Read 
  •  Sent 
  •  Voted