CVG announces regional strategies for Guayana Economic development
<a href=www.vheadline.com>Venezuela's Electronic News Posted: Tuesday, May 20, 2003 By: David Coleman
Regional strategies for development in southeastern Guayana include the strengthening and consolidation of existing productive units, the promotion of new investment, selective replacement imports, infrastructure development, support services and viable financial instruments for small- to medium-sized businesses (Pymes).
Announcing the plan, Venezuelan Guayana Corporation (CVG) president, Major General (ret.) Francisco Rangel Gomez says the greatest contribution will be given by the CVG to strength small- to medium businesses since it has been to recover financial balance in its subsidiary companies with the largest-ever volume of production ever previously registered.
Opening the "Reactivation in Guayana, an obligation” conference organized to celebrate the 50th anniversary of the Caroni Chamber of Industry & Commerce, Rangel Gomez said the nation's heavy industry conglomerate is especially focused on development of the Eastern and Orinoco-Apure Axis within a development policy already outlined by the National Executive.
"The CVG has typified interaction between public and private sectors during the last 2½ years, maintaining direct contact with very important elements in mining, agroindustry, metals and general industry. By strengthening and consolidating existing productive units, the CVG has succeeded in recuperating affiliated enterprises FMO, Venalum, Bauxilum, Carbonorca, Alcasa and Minerven with record production. At the same time, a reinforcement plan for financial structure, environmental management and quality standards is being put in place ( Rule ISO 9001:2000) ... these strategies imply a plan of reactivation and rescue for Cabelum, Hoturvensa, Pivensa, Alpesca and Inlubrica to cite but a few instances.”
Existing private sector infrastructure is favored through a productive sectors strengthening program in the hands of the Science & Tecnology Ministry, Health & Social Development, local authorities, municipalities, Fundacite, Ince and the Guayana Regional Fund. The CVG is bringing forward intermediary efforts in cooperation with the Planning (Cordiplan) Ministry, Environment (MARN), Production & Commerce (MPC), IRS/Seniat and the foreign exchange control organization CADIVI to attend private sector requirements.
Rangel Gomez says that the CVG encourages large projects that will positively affect the Guayana region with employment creation and economic activity ... Tocoma Hydroelectric Central, CVG-FMO and to increase production capacity at CVG Bauxilum, the construction of a CVG Alcasa Line 5, telecommunications, agroindustry and local industry as focal points of development. The CVG president lauds advantages that the Guayana Regional Fund offers as a financial alternative for PYMES ... "up to now, we've promoted 245 projects, creating more than 9,000 places of employment with a total investment of Bs. 68 billion, financing Bs.35 billion to mining, services, manufacturing, tourism and agriculture, some at a prime rate of just 12%."