Venezuela owed about 12,000 million to 28 companies "nationalized or expropriated" since 2007 have not compensated, what sets "hostile conditions" for private investment, said "Venezuelan American Chamber (U.S. ndlr) Trade" ( Venamcham.)

"There have been nationalized, expropriated or confiscated 28 companies, which means that with such hostile conditions for private enterprise, there is no investment," he said during a meeting of the chamber Edward Jardine, president of Vanmcham.

The ruling held that the debt would range between 10,000 and 12,000 million dollars for unpaid compensation. (AFP)

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