March 23, 2015
Venezolana de Industria Tecnológica (VIT), a joint venture formed between Venezuela and China for the assembly of computer equipment, met the production goal set for 2014 by 53%. According to the Report and Account of the Ministry of Industries, the quantity of products assembled by the company last year amounted to 152,763 of the 290,000 projected.
VIT cites as reasons for non-compliance with the goal, the delay in administrative processes and the lag between the approved currencies and those settled, which limited the acquisition of raw material and resulted in a decrease in sales and the impact on projected income in the cash flow.
Via VIT, 53% met the projected goal for 2014.
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