Multinational Food Chain Looks At the Venezuelan Government

Venezuelan President Hugo Chavez has closed several local McDonald’s in Venezuela in the past 48 hours to continue his fight against transnational fast food.

If the antitrust law is confirmed which was just passed in first reading by the National Assembly may be accused of monopoly franchises to those with a minimum of 15 branches and force them to close.

According to Victor Maldonado, president of the Caracas Chamber of Commerce, the drafting of the bill is ambiguous so that “the Government to pillory the franchise sector, chain stores and supermarkets.”

Another company in the crosshairs is the supermarket chain Madeirense Central Portuguese origin, the country’s largest. Even supermarkets of the same origin Excelsior Gama have been forced to close for several days because the authorities claimed an alleged tax fraud.

If the Executive considers that there are shortages, the problem could hold the franchises and supermarket chains and expropriate them. Thus, its assets can be productive and declare them part of the so-called ‘social property’.

Source: El Comercio Newspaper