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Neoliberal lobby in the ANC prepares direct foreign investment

Luis Britto García |  20.11 – Aporrea.org

In the most absolute secrecy a neoliberal lobby prepares in the Constituent a Terminator Law for the Promotion and Protection of Investments, or Foreign Direct Investment, to grant companies and individuals from other countries greater privileges than Venezuelans and ruin us.

Based on the content of all the Laws of Promotion and Protection of Foreign Investment that in the world have been, we can deduce that it will contain norms that undermine sovereignty.

All these rules grant foreigners privileges for the granting and acquisition of foreign currency, which is contradictory, since such investments are allowed to contribute foreign currency and not to demand them, and also tends to create two discriminatory categories: that of companies and foreign people, privileged with foreign currency, and the nationals, deprived of them.

Every Law for the Promotion and Protection of Investments violates the sovereign right to adjudicate internal controversies in matters of public interest with our own laws and tribunals, and attributes competence to decide such lawsuits to the World Bank, the OAS, the ICSID, and other bodies integrators These integration mechanisms could be and in fact are sometimes under the domination of interests hostile to Venezuela, as is the case with Mercosur today, and their courts or arbitration boards would try to decide on Venezuela’s internal public interest, damaging their rights and sovereignty.

Every Law for the Protection and Promotion of Foreign Investments reserves for strategic entities strategic sectors, such as natural resources or mining, which in principle are reserved for the State because of their national interest, and which therefore excludes companies and national citizens.

Every Law for the Promotion and Protection of Foreign Investments allows the latter to value their own investments with the methods that they choose, with which they can avoid or diminish the taxes on the patrimony, or increase the compensation for expropriation.

Any such law enables the government to grant foreigners tax exemptions or exemptions that may be ruinous.

So many privileges for foreign companies encourage national firms to try to appear foreign or to surrender to foreign capital, which, instead of favoring the national economy, will make it increasingly dependent.

I do not think there are any constituents or Venezuelans who can pass a law that accords to foreigners privileges, prerogatives and advantages that deny Venezuelans.

Luis Britto García is a writer, historian, essayist and playwright.

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