Venezuela creates new state company for ICT development

27 Apr 2010

Venezuela’s government has passed a law authorising the creation of a new state-owned company, Industria Venezolana de Telecomunicaciones (Invetel), which will research, develop, manufacture, test and market prototype antennas, low noise amplifiers and other components to meet demand for telecoms and information technology. The new public limited company will be overseen by the Ministry of Popular Power for Science, Technology & Intermediate Industry (MPPCTII), which is also the main shareholder in national full-service telecoms operator CANTV and smaller telco Telecom Venezuela. According to the MPPCTII’s announcement, Invetel will also be responsible for providing technical support and maintenance of new communications equipment.