Venezuela has “signed and tied up” investments from Russia, China and India, says Maduro

Caracas, Jul 20 (EFE).- Venezuelan President Nicolás Maduro announced Saturday that the country has “signed and secured” investments from Russia, China and India to improve technology and increase production at several public companies located in the south of the Caribbean nation.

“Thanks to the relations I have with the BRICS, investments and technology with capital from India, China, Russia are signed and tied up, respecting our sovereignty, with our socialist model,” said the official candidate for the July 28 presidential elections during a campaign event in the state of Bolívar, bordering Brazil.

In this regard, the Chavista leader assured that he had “in hand” the contracts signed with investors from these member countries of the BRICS group of emerging economies to invest in the Venezuelan Guayana Corporation (CVG), a conglomerate of public companies in mining, forestry and electrical resources.

“I have signed international investments and contracts to bring technology and production (…) to 100% and generate employment,” added Maduro, who had already recently announced these alliances, although without specifying the countries.

Last June, the head of state explained that his government obtained these investments, without detailing the total amount, through the Anti-Blockade Law, which allows the president to sign secret contracts, without being accountable to Parliament, with the aim of circumventing international economic sanctions.

The Maduro government has reiterated its interest in joining the BRICS – founded by Brazil, Russia, India, China and South Africa – and has made Venezuela’s oil reserves, the largest in the world, available to the group for possible business deals.

The president has visited more than a hundred cities as part of the electoral campaign, which formally began on July 4 and ends next Thursday, when the Chavistas, as announced this Saturday, will carry out a “takeover” of Caracas for 12 continuous hours.