Page:Constitution of the Bolivarian republic of Venezuela.djvu/106

From Wikisource
Jump to navigation Jump to search
This page has been validated.

established for Venezuelan nationals. Foreign investment is subject to the same conditions as domestic investment.

Article 302: The State reserves to itself, through the pertinent organic law, and for reasons of national expediency, the petroleum industry and other industries, operations and goods and services which are in the public interest and of a strategic nature. The State shall promote the domestic manufacture of raw materials deriving from the exploitation of nonrenewable natural resources, with a view to assimilating, creating and inventing technologies, generating employment and economic growth and creating wealth and wellbeing for the people.

Article 303: For reasons of economic and political sovereignty and national strategy, the State shall retain all shares of Petróleos de Venezuela, S.A. or the organ created to manage the petroleum industry, with the exception of subsidiaries, strategic joint ventures, business enterprises and any other venture established or coming in the future to be established as a consequence of the carrying on of the business of Petróleos de Venezuela, S.A.

Article 304: All waters are property in the Nation's public domain, essential to life and development. The necessary provisions shall be established by law to guarantee the protection, utilization, and recuperation thereof, respecting the phases of the hydrological cycle and zoning criteria.

Article 305: The State shall promote sustainable agriculture as the strategic basis for overall rural development, and consequently shall guarantee the population a secure food supply, defined as the sufficient and stable availability of food within the national sphere and timely and uninterrupted access to the same for consumers. A secure food supply must be achieved by developing and prioritizing internal agricultural and livestock production, understood as production deriving from the activities of agriculture, livestock, fishing and aquicul-