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SUNDDE is able to set prices, wages, and production quotas for all businesses operating in Venezuela on a continuous basis; these controls extend to all sectors of the Venezuelan economy. The organization is also empowered to fine, close, or occupy businesses accused of hoarding or price fixing, and is able to imprison violators.
Shortages in Venezuela of food staples and basic necessities occurred throughout Venezuela's history. [6] Scarcity became more widespread following the enactment of price controls and other policies under the government of Hugo Chávez [7] [8] and exacerbated by the policy of withholding United States dollars from importers under the government of Nicolás Maduro. [9]
Venezuela exports rice, corn, fish, tropical fruit, coffee, pork and beef. Venezuela has an estimated US$14.3 trillion worth [28] of natural resources and is not self-sufficient in most areas of agriculture. Exports accounted for 16.7% of GDP and petroleum products accounted for about 95% of those exports. [29]
Avocados from Mexico. Cherry tomatoes from Canada. Cheap clothes from China’s Shein and Temu. Gasoline at the pump. And even America’s favorite beer. Economists and market analysts are warning ...
After oil was discovered in Venezuela in 1922 during the Maracaibo strike, Venezuela's dictator Juan Vicente Gómez allowed American oil companies to write Venezuela's petroleum law. [48] In 1943, Standard Oil of New Jersey accepted a new agreement in Venezuela based on the 50–50 principle, described as "a landmark event". [ 49 ]
Distribuidora Internacional de Alimentación, S.A. (DIA) is a Spanish multinational discount supermarket chain founded in 1979. At the end of 2023 it had 3,956 stores, of which 2,318 in Spain, 1,048 in Argentina and 590 in Brazil with approximately 28,500 employees and a turnover of 8.9 billion euros. [ 2 ]
CARACAS (Reuters) -Venezuela's National Assembly on Thursday unanimously voted to approve a law which could lead to bans on holding public office of up to 60 years for those who express support ...
Frescolita is a Venezuelan cola. It is very similar to red cream sodas in the United States, with a taste similar to gum. Frescolita is also used to bake in some places in Venezuela. It is marketed by The Coca-Cola Company. Its ingredients include carbonated water, sugar, sodium benzoate, citric acid, artificial color flavor. [1]