China, Venezuela sign US$20bn investment accord
China and Venezuela have signed bilateral agreements worth US$20bn as the crisis-stricken South American country moves to guarantee investments in local infrastructure.
The funds will prioritize Venezuela's energy, transport, telecommunications and construction industries, according to state news agency AVN.
The announcement follows talks between Venezuelan President Nicolás Maduro and his Chinese counterpart Xi Jinping in Beijing on Thursday.
The visit formed part of Maduro's tour of Russia, China and the Middle East as he seeks measures to curb the impact of falling oil prices.
The decline has left Venezuela's economy, which is heavily reliant on oil exports, on the brink of collapse amid rampant inflation and a shortage of essential goods.
Meanwhile, China also pledged US$35bn to the Community of Latin American and Caribbean states (Celac) during a forum in Beijing.
Venezuelan vice president Jorge Arreaza said the funds would help bankroll "development plans of each of the countries in the region."
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
News in: Political Risk & Macro (Venezuela)
Venezuela says Argentine, Mexican embassy websites hacked
Venezuela's embassies in Mexico and Argentina claimed they had been hacked and information published in favor of self-proclaimed interim President ...
Macro Watch: Chile, Venezuela, Colombia inflation
The likelihood of further rate rises in Chile this half diminishes after January inflation undershoots, as prices soar in Venezuela, and Colombia i...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Cardenillo hydro plant
- Current stage:
- Updated:
4 days ago
- Project: El Porvenir
- Current stage:
- Updated:
3 days ago
- Project: Oitis 9 wind farm (Oitis wind complex)
- Current stage:
- Updated:
4 days ago
- Project: Oitis 3 wind farm (Oitis wind complex)
- Current stage:
- Updated:
3 days ago
- Project: Restoration and Maintenance Pozo Colorado-Concepción (Stretch 3)
- Current stage:
- Updated:
4 days ago
- Project: Pachachaca 2 hydro plant
- Current stage:
- Updated:
4 days ago
- Project: Oitis 10 wind farm (Oitis wind complex)
- Current stage:
- Updated:
4 days ago
- Project: Restoration and Maintenance Pozo Colorado-Concepción (Stretch 2)
- Current stage:
- Updated:
4 days ago
- Project: San Acacio (Zacatecas Project)
- Current stage:
- Updated:
3 days ago
- Project: Magdalena Solar photovoltaic plant (Phase 1)
- Current stage:
- Updated:
4 days ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Angel Gold S.A.S.
- Company: Trina Solar Perú
- Company: Kuya Silver Corporation (Kuya Silver)
-
The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
- Company: Clariant Brazil, S.A. (Clariant Brasil)
-
Clariant Brasil is a specialty chemical company, local subsidiary of Swiss-based holding Clariant AG. Its business areas include care chemicals, natural resources, catalysis and...
- Company: Compañía Minera Pangea S.A. de C.V. (Compañía Minera Pangea)
-
Minera Pangea S.A. de C.V., a subsidiary of US-based miner McEwen Mining Inc., is a Mexican mining company that wholly owns El Gallo 1 gold-silver open-pit mine (previously know...
- Company: Conhydra S.A
- Company: Autovía Bucaramanga Pamplona S.A.S. (Autovía Bucaramanga Pamplona)
-
Autovía Bucaramanga - Pamplona S.A.S. It is a subsidiary of Colombian construction company CSS Constructores S.A. (100%) established in 2016 to develop the Bucaramanga - Pamplon...
Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.
