The Venezuelan government has announced Venezuela’s “irrevocable” withdrawal from the World Bank affiliated arbitration body the International Centre for Settlement of Investment Disputes (ICSID).
Indepabis, the Institute for the Defence of People in the Access to Goods and Services, has published a list online of over 1,000 new regulated prices for medicinal products.
Communal grain packing company Hijos de Bolivar (Bolivar’s children) in Los Guayos, Carabobo state, inaugurated six months ago, is packaging 16 tonnes of sugar per day as well as beans, and soon rice, which it then sends on to communal councils.
The “great social missions” created over the last six months could contribute to reducing the national rate of extreme poverty from 7 to 3.5 percent in the medium term.
Over 27,500 Venezuelans have registered in the first two days of the government’s new Knowledge and Work mission, which aims to incorporate over 800,000 unemployed citizens into the labour market within the coming year.
Venezuela produced 7.79 million tonnes of cement in 2011, an increase of almost 10% from 7.1 million tonnes in 2010, the Venezuelan Minister of Industries Ricardo Menendez confirmed this week.
The Venezuelan government has described its arbitration hearing at the International Chamber of Commerce (ICC) as a “successful defence” after it was told to pay just US$907 million to the Texas-based oil company Exxon in return for the nationalisation of one of its projects in Venezuela.
Venezuela’s entrance as a full member into the Common Market of the South (Mercosur) trade alliance topped the organization’s agenda last Tuesday during a meeting of heads of state held in the Uruguayan capital of Montevideo.
Venezuela’s national Budget in 2012 will grow by 43% to Bs. 297.5 billion ($69 billion), as the nation continues to benefit from construction led growth and improved employment and social development indicators.
Venezuela has had the largest reduction in unemployment in the continent, which currently sits at 6.2 percent, revealed Elias Eljuri, president of the Venezuelan National Institute of Statistics (INE).
The president of the Bolivarian Republic of Venezuela, Hugo Chavez, signed on Monday the decrees to enact the Debt Law 2012, the reform to the Medicine Practice Law, the Organic Law against Racial Discrimination, and the Law on the Rational and Efficient Use of Energy.
Venezuela's position as OPEC's biggest producer in Latin America has allowed the administration of Hugo Chavez to provide energy resources to Caribbean and Central American countries as the cornerstone of its regional geopolitics and diplomacy policies that aim at strengthening ties with its allies.
Over 4,000 companies have registered their pricing structures with the Venezuelan government’s Automated Price System (Sisap) as part of the latest phase in the new Law of Fair Costs and Prices. The law allows the Venezuelan state to set prices across a range of economic sectors in a bid to ensure access to goods and services for the Venezuelan people and to combat hoarding and price speculation by private companies.
