ENCOURAGING NEW INDUSTRY

Timaru Herald, Volume CLIII, Issue 22475, 9 January 1943, Page 2

ENCOURAGING NEW INDUSTRY

Progressive Move In Venezuela Wide spread measures to encourage industry and attract foreign and domestic capital in developing country’s resources are being taken by the Venezuelan Ministry of Development, says the "Christian Science Monitor.” Faced with the immediate necessity of fulfilling consumer demand for a number of commodities, the Government is anxious to co-operate with industrialists who will erect plants immediately. According to Minister of Development Eugenoi Mendoza, Jr., the Government has already assisted infant industries in many ways. Waiving duties for the import of machines and raw materials, the Ministry has saved these companies 22,359,000 bolivares ($6,707.7001. At the same time the semi-official Industrial Bank of Venezuela has maintained a policy of easy credit and liberal terms for new industries. The Government’s policy has already shown results in attracting 364 new industries from June 1939 to June of this year. The Ministry recently issued a list of industries which must be created as emergency measures indispensible to the economy of the nation. Among them is the production of seed oils and greases for cooking and eating. The Ministry of Agriculture has already developed a sesame seed which gives several times the amount of oil derived from ordinary varieties. Fertilizer and animal fodder, both of which can Ito derived from the residues of the oil industry, is another vital necessity, say the report. The oil is greatly needed for the fish canning industry which has grown in Venezuela recently. Also needed is a powdered milk industry. Tlie country also needs a number of electric plants capable of giving industry cheap power; factories for making coke; foundries for machine shops, and industry for cautlc soda and its denvaIndustries of first necessity, as differing from those of emergency need, include the preservation of vegetables through canning or freezing; the manulaeture of bag; num vegetable fibres; tanning ta.-i..ri- ' and brick factories. I’ITROW OFF ANY AND AL.L COLDS! The power and pen of Bettie’s Lightning Cough Cure smashes even the most nersistent cough and cold—routing on/oprms and restoring normal breathing Peaceful sleep Get Bottle’s Lightning Cough Cure from clmmists and rlscwhcrr. or George Bettie, Chemist. Colombo Street, Christchurch.