Venezuela Ratifies
Foreign Investment Security
CARACAS - Venezuelan President Hugo Chavez
ratified on Sunday that there is security to
invest in his country, and denied campaigns
that are spreading a distorted reality.
Media lies blatantly, when they say there
are no real conditions or legal security for
investments in Venezuela, assured the head
of state in his usual Sunday column entitled
Las Lineas de Chavez (Chavez' Lines).
The statesman recalled the recent
announcement by the partners that will work
in the Carabobo block in the Orinoco Oil
Belt, the largest hydrocarbon reserve on the
planet.
The projects were awarded to a consortium
composed of Spanish Repsol Oil Company,
Malaysian Petronas Company, India's ONGC,
Indian Oil Corporation, and another group
shaped by companies as US Chevron, Japan's
Mitsubishi and Inpex and Venezuelan
Suelopetrol.
It is expected that only in the first six
years investments will increase to $80
billion, helping revitalize the economy,
generate thousands of jobs and develop
integrally this vast region and the country,
Chavez said on February 10.
"We are making history with this great
project, which will extend the cooperation
between nations, based on friendship,
equality and sovereignty."
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