Bicentennial Fund is a tool to promote domestic production of basic inputs


Ciudad Guayana, 28 ABN .- 'Through the financing of productive projects by small
and medium entrepreneurs, the Socialist Production Bicentennial Fund will be a
valuable tool to achieve in a short time many import substitution, "said
Governor Bolivar state, Francisco Rangel Gomez.

The president made this statement during the First Meeting of the Socialist
Productive Bicentennial Fund, held this Thursday at Club Punta Vista, in Ciudad
Guayana, with presence of over 200 businessmen and entrepreneurs, and national
government authorities and state.

The president explained that bolivarense for this entity "Bicentennial Fund is
important because this way we hope to fund some 160 industrial projects,
agribusiness, tourism, innovation and community interest, which will give
solution to many local needs."

He explained that Bolívar is known as a mining and industrial state, the
presence of large firms producing basic iron, steel and aluminum and gold mines,
diamonds and bauxite.

"However, our true potential is tourism and agribusiness, which will be further
enhanced by means of this fund to generate new jobs and development in the
eleven municipalities of Bolívar State," he said.

Rangel noted that to this end, the governor of Bolivar has worked directly with
entrepreneurs and small businessmen organized to collect about 40 projects that
were presented Thursday at the Bicentennial Fund

He considered that this development of new economic and productive areas will
overcome the imbalance in the regional economy generated by the drop in sales of
aluminum, iron and steel in the basic state affected by the crisis in the
international market.

"We know the basic business situation has generated a great impact on the
community, but the state of Bolivar has great potential to be productive and we
will use them in conjunction with the National Government, private sector and
workers," said .

The Socialist Production Bicentennial Fund was created on January 9, 2010 by the
President of the Bolivarian Republic of Venezuela, Hugo Chávez, with the
intention to fund projects to replace selective import of raw materials and
products needed by the domestic market and revive the export of non-oil items.

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