ANNOUNCEMENT 19 Jan 2010

In January 2010, the government of Venezuela announced altered domestic business conditions for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 19 Jan 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

The National Assembly (legislature) passed amendments to the Law of the People Access to Goods and Services (formerly the Consumer Protection Act and the User), through which incorporates as grounds for the nationalization of a company to the repeated violation of the provisions relating to price fixing to consumers.
According to an announcement by the President of the Republic, once enacted the amended Law shall be used to nationalise the chain-store "Success," which is of Franco-Colombian origin.
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A