CARACAS Venezuela said it plans to sell hotels and other state-owned assets in order to attract foreign and local investment in tourism, El Nacional reported. Production and Trade Minister Luisa Romero said the state would sell eight hotels, two marinas and island property. She did not say how much the government plans to raise with the sales.
Romero said the government would complete its appraisal of the properties and begin negotiations by the end of March. Venezuela is selling state assets acquired during the country s 1994-1995 banking crisis in a bid to attract the investment needed to diversify the country s oil revenue dependent economy. (2/6/01)
SOURCE:Bloomberg News