Fields metallurgical reported delay in obtaining foreign currency 

MARIELA LEON
THE UNIVERSAL

The president of the Association of Metal and Mining Industry of Venezuela (AIMM), Eduardo Garmendia said yesterday that met with the schedule of projects planned for this year, the sector would grow at 8%, a figure similar to that reported in 2007.

He noted that the industrialist at the close of last year that economic activity grew around 8% compared with the volumes of 2006. "That means a 3 to 3.5% of Gross Domestic Product (GDP). We are talking about a potential of about 5,000 million dollars, in terms of turnover in the sector. Generated jobs over the 70 thousand posts working about 200 thousand direct and indirect. "

The installation of the V Day of Metallurgical Industry, Garmendia said that the "biggest challenge" with which they have encountered in the implementation of projects is the delay in obtaining foreign currency to purchase the imported component that requires the sector for the development of various products.

In 2007, she said, the metal industry needed $ 800 million and were left "liquidate" by Cadivi between 35 and 40% of the total. The delivery delay of 90 to 120 days and "it is enough to the industry that it needs external credit.