IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Feb 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On January 21, 2010 the Venezuelan National Assembly passed a law that facilitates for the executive power to nationalise and expropriate enterprises that are considered to be of general interest.
This modification of the existing law was requested by President Chavez on January 17, 2010 to manage the consequences of the devaluation of the Venezuelan currency, that is, to be able to expropriate companies that had to sharply increase their prices after the devaluation of the local currency.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.