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Shultz advises Latin lands to discard state ownership

Secretary of State George Shultz urged the nations of the Caribbean and Central America to discard policies of state ownership and adopt open economies so they can compete successfully in world markets.

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''The economically most successful countries in the '80s and '90s will likely be those who provide the best environment for productive investment,'' Mr. Shultz told the annual Caribbean Conference here Thursday. Shultz said the system should be founded on domestic savings and investment, equal treatment of foreign and domestic investment, open trade, and the use of foreign resources as a supplement to domestic savings, not weighted so that it fosters dependence.