The objectives for state ownership according to the Venezuelan administration are meant to overcome the country's socio-economic challenges and to change the structure of the state that was an obstruction to building socialism. State-owned companies in Venezuela are guided by two objectives, namely employment creation and economic development. Generally all the SOEs in Venezuela report to the Portfolio Committee on Administration and Services. The regulatory policy framework for each SOE is conducted by the relevant institutes. There are regulatory bodies for different sectors of the economy. For instance, all airlines are subject to the regulatory framework of both the National Institute of Aviation and the Civil Institute of Aero-Nautical. The overall role of SOEs in the country's development agenda is guided by the government's National Plan which runs over a period of five years. Much emphasis is placed on the role to be played by workers in all the SOEs and the various communities who stand to benefit from their services through communal councils. All structures within each SOE in Venezuela are established by the Venezuelan Commercial Code. The assumption is that issues of corporate governance are contained in the Code. The Venezuelan civil law gives guidelines to the standard and norms of services rendered by all arms of government, including state-owned companies.