Mérida, 7th May 2012 (Venezuelanalysis.com) – Venezuelan President Hugo Chavez has approved the construction of the factory “Haier Venezuela”, which is to produce low-cost household appliances for the Venezuela population.
The move was announced yesterday by Venezuelan Vice President, Elias Jaua, during an official event in which the Government Federal Council granted 992 million bolivars ($US 231 million) to community and grassroots organisations over seven regional states.
The factory, which is being constructed in the central Miranda state and is expected to be up and running by mid-September this year, will produce “white goods” items such as electrical kitchen appliances.
The goods will be sold through the government program “My Well Equipped House”, which sells household appliances to the Venezuelan people at discounted prices to improve living standards and “defend the people against the greed of capitalism,” according to President Chavez.
The program was launched as the result of an agreement between China and Venezuela in May 2010, which included a contract by the Venezuelan government to buy over 300,000 household electrical items from Haier Electric Appliances. The new Haier Venezuela factory is also being constructed with Chinese assistance.