ANNOUNCEMENT 25 Oct 2010

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

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



Oficial Gazette. (2010). Decreto 7751. Available at http://www.tsj.gov.ve/gaceta/Octubre/26102010/26102010-2981.pdf#page=4

Financial Times. (2010). Ch?vez nationalises local arm of US company. Available at http://www.ft.com/cms/s/0/47946636-e0b1-11df-abc1-00144feabdc0.html


Inception date: 25 Oct 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On 25 October 2010, Venezuelan President ordered the nationalisation of the local branch of US American glass manufactuer Owens Illionois. Mr Chavez cited environmental concerns and work force treatment as reasons for the expropriation.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A