76% of companies in Venezuela’s chemical sector operate below 40% of their installed capacity
Reinaldo Gabaldón, president of the Venezuelan Association of the Chemical and Petrochemical Industry (Asoquim), emphasized that the Venezuelan chemical sector does not oppose foreign investors coming to the country.
According to a survey conducted by the private institution, the sector saw «a slight recovery» in the second quarter of the year compared with the same period last year, said Reinaldo Gabaldón, president of the Venezuelan Association of the Chemical and Petrochemical Industry (Asoquim).
He also said: «We are talking about a utilization rate of approximately 30% of installed capacity. When we look at the distribution of capacity, we find that 76% of companies in the sector are operating below 40%».
«Despite this slight recovery, the sector still has a high level of idle capacity, which represents an opportunity for continued growth», he stressed.
Reinaldo Gabaldón noted that the increase in production and sales has been slight, adding that products are being made in the country, but the sector is competing on an uneven playing field with many imports from countries such as China, Colombia, and Turkey.
Foreign investment
The industry representative maintained that there is room for foreign investment in the national chemical industry: «The national chemical sector does not oppose foreign investors coming to the country».
He also told Unión Radio that people are beginning to knock on doors to see whether there is interest in investing in the sector, and emphasized that surveys conducted within the sector indicate a positive attitude toward establishing partnerships with international investors.
#china #Colombia #venezuela #Turkey #Petrochemicals $GLWB $CGPT $DOGE
Reinaldo Gabaldón, president of the Venezuelan Association of the Chemical and Petrochemical Industry (Asoquim), emphasized that the Venezuelan chemical sector does not oppose foreign investors coming to the country.
According to a survey conducted by the private institution, the sector saw «a slight recovery» in the second quarter of the year compared with the same period last year, said Reinaldo Gabaldón, president of the Venezuelan Association of the Chemical and Petrochemical Industry (Asoquim).
He also said: «We are talking about a utilization rate of approximately 30% of installed capacity. When we look at the distribution of capacity, we find that 76% of companies in the sector are operating below 40%».
«Despite this slight recovery, the sector still has a high level of idle capacity, which represents an opportunity for continued growth», he stressed.
Reinaldo Gabaldón noted that the increase in production and sales has been slight, adding that products are being made in the country, but the sector is competing on an uneven playing field with many imports from countries such as China, Colombia, and Turkey.
Foreign investment
The industry representative maintained that there is room for foreign investment in the national chemical industry: «The national chemical sector does not oppose foreign investors coming to the country».
He also told Unión Radio that people are beginning to knock on doors to see whether there is interest in investing in the sector, and emphasized that surveys conducted within the sector indicate a positive attitude toward establishing partnerships with international investors.
#china #Colombia #venezuela #Turkey #Petrochemicals $GLWB $CGPT $DOGE
