Reserved Contracts for Small and Medium-sized Industries and Cooperatives

The Ministry of Light Industries and Trade has issued Resolution No. 197 published in Official Gazette No 38.577 of December 5, 2006. This Resolution is based on Article 16 of Decree No. 4998 of November 17, 2006 establishing the temporary measures for the promotion and development of Small and Medium-sized Industries (SMIs), Cooperatives and other forms of association having their principal domicile in Venezuela, producing goods, rendering services and performing works.

The Resolution establishes categories of contracts of goods and rendering of services reserved to specific bodies corporate whose tenders in bidding processes present a percentage of National Value Added ("VAN") equal to or higher than the percentage indicated for each category.