Venezuelan Guayana Corporation (CVG) announces new telecommunications subsidiary

<a href=www.vheadline.com>Venezuela's Electronic News Posted: Wednesday, June 04, 2003 By: David Coleman

Venezuelan Guayana Corporation (CVG) president, Major General (ret.) Francisco Rangel Gomez says a new CVG telecommunications subsidiary uses 1,500 kilometers of fiber optic cables supplied by electricity power provider EDELCA to establish its own telecommunications network in Venezuela.

“The project has just been completed and is to be introduced to investors in Caracas where several national and foreign enterprises have expressed interest in being our partners in the project which already has an installed infrastructure for special services to introduce a new business model for the CVG and Venezuela."

The Guayana Project is a strategic alliance between the public and private sectors to assure reliable support mechanisms by the CVG to reinforce small to middle sized companies in the Guayana region ... “we specifically speak about six strategies acting as a background to the main CVG objectives: the strengthening and consolidation of the existent productive sector, new investment promotion, selective replacement for import; infrastructure development and support services and the creation of suitable financial tools for small businesses (Pymes).”

Rangel Gomez says that each of the strategies details definite actions seeking not only commercial and industrial sector support but communities as well.  “More than ever now, we are committed to generate development in Venezuela and consolidate as a non-oil economic choice.”  The 2nd bridge over the Orinoco River, the Pulp & Paper Plant, CVG Alcasa Line V and the enterprises recuperation like Hoturvensa as seen as recent successes ... “we are looking for new companies to take over, in joint venture with us, the challenge of recovering nearly-lost opportunities and to promote them as an important regional investment attraction.”