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.
04:17 PM. Western Hemisphere. "Damned empire; I curse you one thousand times; some day you will be finished off and wrecked. I curse you one thousand times, empire." This is the least that President Hugo Chávez has uttered to refer to the US government. In urging the Bolivarian Armed Forces to prepare for war, he said that a US raid on Venezuela through Colombia would trigger and spread over the region "the 100-year war."