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Chinese V.P. views Beijing's money at work in Venezuela

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(Globalpost/GlobalPost)

Caracas, May 14 (EFE).- Chinese Vice President Li Yuanchao on Tuesday asked the Venezuelan government for efficiency in managing an agro-industrial plant it has begun building near Caracas with a $52 million investment from Beijing.

"We have to take care that these projects are effective and efficient, in the sense that they can play a positive role in employment and economic and social effects," Li told Venezuelan Foreign Minister Elias Jaua while touring the site. "I hope the efficiency factor will be taken into consideration."

The plant is for pasteurizing milk and producing other dairy products and is being constructed in Valles del Tuy, near the capital.

"Success in this project will serve as an example" for future joint projects, Li said through a translator during the plant visit, which was broadcast on state television.

Jaua emphasized that Venezuelan President Nicolas Maduro told Li on Monday that he wants Chinese support for this type of project not to be limited to construction and technology transfer.

"(We want) to associate ourselves for the joint management of these productive units that allow us to reach necessary levels of efficiency so that they can really be useful for the Venezuelan people," Jaua said.

The Chinese V.P. arrived in Venezuela over the weekend and on Monday met with Maduro, with whom he signed accords for the financing of other works, among them the construction of a port for state petrochemical company Pequiven.

http://www.globalpost.com/dispatch/news/agencia-efe/130514/chinese-vp-views-beijings-money-at-work-venezuela