Venezuela puts state food firms in private hands as socialist policies recede By Reuters – Investing.com

Venezuela puts state food firms in private hands as socialist policies recede By Reuters – Investing.com

By Mayela Armas

CARACAS (Reuters) - Venezuela's government is allowing private firms to run at least 13 food companies that were nationalized a decade ago, according to a dozen people familiar with the situation, an effort meant to improve operations that suffered under state management.

The government of President Nicolas Maduro has maintained ownership of struggling firms that produce food ranging from corn flour and dairy products to canned tuna and seeds, but has licensed the operations to third parties in exchange for payment, according to the sources and documents seen by Reuters.