ANNOUNCED AS TEMPORARYNo
FDI: Treatment and operations, nes
On March 30, 2009, the Venezuelan President Hugo Chavez issued a decree (Decree No 6.656) on the nationalisation and expropriation of a rice plant owned by the American company Cargill. The justification of this measure is based on a decision taken at the beginning of March 2009 imposing that 80 per cent of the rice produced has to be basic white rice. The Venezuelan authorities claimed that Cargill did not comply with this rule.
This measure is included in the GTA database because the nationalisation was forced and the compensation (if there is any) for the expropriation is most likely tothe detriment of foreign commercial interest.
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