Venezuelan state-owned oil company Petróleos de Venezuela S.A. (Pdvsa) may begin manufacturing shoes and even growing crops, as a result of President Hugo Chávez's decision to expand the government’s role within the local economy.

Mr Chávez has approved the introduction of seven subsidiaries that will operate in a variety of sectors and this will increase Pdvsa’s ability to compete with companies from across the globe. The company already controls local oil production, and this constitutes 90% of Venezuela's foreign and almost 50% of the government's revenue.