Bill in Venezuela Paves Way for Future Private Investments

The change could allow further private or foreign investment in the state-owned Petroleos de Venezuela (PDVSA) and in the country's oil sector.

RIO DE JANEIRO, BRAZIL - The draft law introduced by Venezuelan President Nicolás Maduro on Tuesday, September 29th, paves the way for higher private investments in the economy, which would reverse decades of state intervention.

The text of the "anti-blocking" bill describes the Executive with the power to change the ownership, management or administration of public companies and joint ventures, according to a draft seen by Bloomberg news outlet.

The change could allow further private or foreign investment in the state-owned Petroleos de Venezuela and in the country's oil sector, the production of which has plummeted as . . .

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