Companies are organizations that produce a certain good or service. They can be classified according to the ownership of capital into private, public and mixed.
The joint ventures They are a type of company whose capital comes from private investors and the State (national, provincial or municipal).
There are large, small and medium-sized industrial and commercial companies with mixed capital. For instance: the Argentine energy company, YPF; the Spanish Electricity Network.
In a company of this type, the State usually contributes the capital or the infrastructure of the company; the private sector can contribute capital, manpower, work teams, logistics, commercial relations.
Joint ventures are present in many countries of the world, especially in those areas of the economy that are of vital importance for the National sovereignty and that require large amounts of investment to be profitable, such as energy and oil. Joint ventures must safeguard the public interest and the private interest.
Origin of joint ventures
- Companies founded with state capital, which over time a part was privatized.
- Private companies that sold a part to the State.
- Companies that were created with mixed capital from the beginning.
Examples of joint ventures
- hipotecary Banc. Argentine financial entity with a majority state participation.
- Red Eléctrica de España. Operator of the Spanish electrical system. The Sociedad Estatal de Participaciones Industriales owns 20% and 80% is listed on the stock market.
- Petropy. Oil company controlled by Petróleos de Venezuela SA (PDVSA) and the US oil company Chevron.
- Petromonagas. Oil company controlled by Petróleos de Venezuela SA (PDVSA) and the Russian oil company Rosneft.
- Petrocedeño. Oil company controlled by Petróleos de Venezuela SA (PDVSA) and the French oil company Total.
- Petrocuragua. Oil company controlled by the Venezuelan Petroleum Corporation (CVP), National Production and Exploration Operations (OPEN) and Petroleum Investment Portfolio (CIP).
- Havanna Club International. Rum-producing company managed by the Cuban government and the French company Pernod Ricard.
- YPF. Energy company with 51% of the capital of the Argentine State, the remaining 49% is listed on the stock market.
- Invania. Joint venture dedicated to the development of nuclear technology formed by the Argentine technology company, Invap and the Saudi state company for technological innovation Taqnia.
- Explocen. Company that manufactures, imports and markets explosives for industries. It is made up of the Social Security Institute of the Ecuadorian Armed Forces (ISSFA) and the North American firm, Austin Powder Co.
- Esepsa. Panamanian energy company whose shares are divided between the State of Panama and the Gas Natural Fenosa Group.
- At. Energy company. The Italian State is its main shareholder, the rest of the shares are owned by private capital.
- Petroterminal of Panama. Hydrocarbon terminal operating company created by the Republic of Panama and private capitals. It is managed by NIC Holding Corp., a US company dedicated to the storage and handling of hydrocarbons.
- Ensa. Panamanian energy company. Its share capital is constituted by Grupo EPM with 51%; while the Panamanian State is creditor of 48.3%. The remaining 0.7% belongs to employees and former employees of the company.
- Ecopetrol. Colombian oil company managed by the National Hydrocarbons Agency with participation in the stock market.
- ETB. Bogotá telecommunications company administered by the municipality of Bogotá. It has private minority shareholders.
- Bogotá Energy Group. Colombian electricity company. Its largest shareholder is the Capital District of Bogotá, with a 76.28% stake.
- Transmilenio. Urban transport system of the city of Bogotá. The infrastructure, administration and planning of the system is carried out by a public company. The vehicles are owned by a private company.
- Bucaramanga Cleaning Company. Mixed urban cleaning company in the Colombian city of Bucaramanga.
- Petrobras. Mostly state-owned Brazilian oil company that has private participation from foreign companies and investors.
- Brascuba. Company that produces and distributes Cuban cigars. It is formed by the Union of Tobacco Companies belonging to the Ministry of Agriculture of Cuba and the Brazilian firm Souza Cruz, leader in the Brazilian cigarette market.
Public and private companies
The public enterprises are those companies whose sole shareholder is the State. The State (which can be national, provincial or municipal) is part of the administration and decision-making within the organization. For instance: the Mexican oil company Pemex; the flag carrier of the Argentine Republic, Aerolineas Argentinas.
They are usually companies that provide services to the population such as: water, electricity, gas. There are many cases of private companies that go into public hands and vice versa.
The private businesses are those where the capital belongs to one or more private investors. For instance: the multinational bakery Bimbo; the Panasonic appliance company. These companies are found in all sectors of the economy. They seek profitability and profit.