Venezuela is a major oil exporter, but in the wake of President Chavez’s announcements regarding his intentions to nationalize certain industries (including the telecom and electricity sectors), the likelihood of foreign investment remaining in the country remains uncertain.
Coutino says the nationalization announcements represent a risk to foreign investment.
“The markets are afraid,” he says. “They don’t want to be in a country where the government cannot guarantee property rights. If the government implements nationalization measures, I’m pretty sure foreign investors will go away.”
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