AN approved draft law for the promotion and protection of investments with China

Published at: 17/09/2024 10:40 PM

The National Assembly (AN), this Tuesday, September 17, unanimously approved, in the first discussion, the draft Approval Law for the Promotion and Protection of Investments between China and Venezuela, in order to promote the development and economic growth of both nations.

In the regular session, the proposal was presented by the president of the Standing Committee on Economy, Finance and National Development, Deputy Jesús Fanía, who said that the agreement proposed in the first discussion, “projects trust, security and a climate of protection for investments made in our country.”

He pointed out that this bill between Venezuela and China also seeks to develop a diversified model that promotes new exports.

Faria added that these ties can be achieved with the Asian giant thanks to the bonds of friendship between presidents Nicolás Maduro and Xi Jinping.

“We can achieve this with the People's Republic of China with which we can establish political, social and economic relations of a new type to achieve the development of the Bolivarian nation,” he explained.

He estimated that foreign direct investment further strengthens nations' economies. “They generate wealth and develop productive forces. They are a fundamental engine in the development of nations today,” he said.

For his part, the president of the AN, Jorge Rodríguez, reported on the creation of a joint commission made up of the Permanent Committees on Foreign Policy, Sovereignty and Integration, and on Economy, Finance and National Development, to prepare the corresponding report for the second discussion of said law.