The president of the Venezuelan Confederation of Industrialists (Conindustria), Tito López, indicated in an interview for Radio Fe y Alegría Noticias, that 80 % of the Venezuelan manufacturing industry is operational, after the earthquakes of June 24.

According to the union member, “the damages recorded so far do not compromise the supply, production or distribution of goods.”

López explained that “only 6 % of the companies reported moderate damage and another 14% presented slight damage, mainly in some plants in the food sector and in industries located in the Yaracuy state.” Regarding companies in the states of Carabobo, Aragua, Lara and others in the central region, including Miranda, he stressed that they maintain their operations following the corresponding security protocols.

He added that “the regional chambers and the different sectors are working together with the affected companies to complete the repairs in the coming days.” The exception is a vegetable oil processor located in the Veroes municipality, Yaracuy state, which temporarily suspended operations due to the damage suffered.

López has ruled out shortages of goods and products in the national market, since production and distribution continue normally.

Conindustria proposed the application of fiscal measures to support the recovery of the affected areas, such as “reviewing exemptions from VAT, Income Tax and some import taxes, especially for essential inputs.” Also, they ask you to avoid nervous buying of medications.

M.Pino

Source: radiofeyalegrianoticias

(Reference image source: EqualStock on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Conindustria affirms that 80 % of the manufacturing industry in Venezuela remains operational apareció primero en Bitfinance.

Venezuela’s interim president, Delcy Rodríguez, ordered the creation of a Special Commission to identify assets that are not essential to the State, in order to proceed with their liquidation and repurposing.

Considering that the country now needs to make the most of its resources, the official indicated that the team will “evaluate, among other elements of the national patrimony, non-productive companies in the hands of the State for their liquidation and repurposing.”

The commission will be composed of the Attorney General of the Republic, Arianny Seijo; the Vice President for Economic Affairs, Calixto Ortega; The Minister of Economy and Finance, Anabel Pereira; the Minister of National Commerce and Industries, Luis Villegas; the Minister of Communes, Michael Prado; and Luigi Pisella, former president of Conindustria, representing the private sector.

Rodríguez explained that the evaluation encompasses assets, including both productive and non-productive companies owned by the State. “Now that we want to streamline and expedite state processes, this commission will prioritize four key categories.”

The evaluation will focus on four areas:

1. – Strategic assets and goods that belong to and remain in the hands of the State.
2. –Public-private partnerships, where the State retains ownership but, given the need for capital, technology, and efficiency, reaches agreements that allow for the development of productive processes.
3. – Supply, based on assets that are not needed for the State’s strategic processes.
4. – Liquidation and disposal.

M.Pino

Source: bitacoraeconomica

(Reference image source: William Marques on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Venezuela creates a commission to evaluate assets not needed by the State apareció primero en Bitfinance.

Data presented by Conindustria reports that 58 % of SME owners in Venezuela face a lack of foreign currency as the main obstacle to production.

The currency auction in the national banking system is considered insufficient and discretionary, and is designed to exclusively benefit “large food and health corporations, leaving medium-sized manufacturers of chemicals, plastics, and technology empty-handed.”

The industrial sector points to a “drought of official dollars” that has led companies to take refuge in cryptocurrencies to cope with this lack of foreign currency and inflation in order to maintain production.

Digital currencies are an alternative given the difficulty in obtaining funds through traditional means. In this regard, analysts warn that as long as auctions remain limited — registering a 13% drop compared to the previous year — the economic recovery will be fragile.

The president of Conindustria, Tito López, recently pointed out that the paralysis of SMEs, due to the lack of foreign currency, “puts the entire supply chain at risk” as a consequence of insufficient financial support.

M.Pino

Source: alnavio

(Reference image source: engin akyurt on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Venezuelan companies turn to cryptocurrencies amid dollar shortage apareció primero en Bitfinance.

The Venezuelan Confederation of Industries (Conindustria) anticipates that the sector could experience double-digit growth by the end of 2026.

Currently, it reports an operating capacity of 52.7 %, according to the report presented by Tito López, president of Conindustria, “and seeks to attract international investment to reach 80 % production.”

The trade association has presented an optimistic assessment of the performance of the national manufacturing sector, “with a 5.4 % recovery in industrial capacity by the end of 2025.”

The available margin, close to 47 %, is seen by industry leaders as key to Venezuela’s strategic positioning in global markets, particularly for attracting foreign investment.

Regarding expectations for the end of 2026 and the beginning of 2027, Conindustria’s technical estimates range between 12.5 % ​​and 12.7 %. According to López, this year is one of economic consolidation, where not only will there be a greater supply of domestic products, but also a boost in formal employment and an improvement in the competitiveness of Venezuelan products compared to imports. The goal is clear: to transform incipient growth into sustained expansion that benefits the entire value chain.

However, the executive emphasizes that achieving these goals requires a stable macroeconomic environment, including the activation of tax incentives that alleviate the tax burden on companies in expansion phases; bank loans to inject working capital and increase production to 80% of total capacity; Stability in public policies and dynamism in foreign exchange auctions.

M.Pino

Source: diariorepublica

(Reference image source: Josh Beech on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Venezuela’s industrial sector projects double-digit growth apareció primero en Bitfinance.

The Venezuelan Confederation of Industries (Conindustria) recently indicated that the country’s growth this year could exceed 12 % despite certain obstacles that are slowing the economy’s momentum.

The organization referred to the “excessive” taxes, the exchange rate gap, and the lack of available foreign currency and financing as obstacles to growth. However, he highlighted that “Venezuela’s private manufacturing output increased by 5.4 % last year compared to 2024, and the industrial sector projects 12.7 % growth by 2026.”

Furthermore, production in the country increased by 6.8 % in the first quarter; 0.1 % in the second; 5.2 % in the third; and 9.5 % in the fourth quarter of last year.

Tito López, president of Conindustria, indicated that the figures obtained so far demonstrate that Venezuelan industry remains strong, “investing, producing, and generating employment.”

Regarding the investment needed to revitalize the country’s industry, López stated that $3.4 billion is required.

M.Pino

Source: notitarde

(Reference image source: Fatemeh Rezvani on Unsplash)

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Conindustria estimates growth exceeding 12 % in Venezuela apareció primero en Bitfinance.

The Venezuelan government received from the president of the Venezuelan Confederation of Industrialists (Conindustria), Tito López, an eight-line action plan aimed at the country’s reintegration into global trade.

According to López, “the industrial sector considers it urgent to achieve macroeconomic stability and adapt monetary and fiscal policies.” In this regard, he indicated in statements to Unión Radio that among the proposals to the government is “the deduction from Income Tax of all taxes and contributions paid without exception, such as IGTF, IGP, sports, or LOCTI, to avoid the effect of paying taxes on taxes.”

The key points of Conindustria’s plan are:

1. Macroeconomic harmony: which refers to the adequacy of monetary and fiscal policies.
2. Tax reform: including the full deduction of taxes and contributions to avoid paying “taxes on taxes,” including IGTF, IGP, sports, and LOCTI.
3. Border security: to guarantee the stability of all sectors in the region.
4. Labor legislation: with a focus on modernizing the social benefits system and restructuring the concept of wages.
5. Science and technology: the focus is on promoting education and innovation.
6. Entrepreneurship and SMEs: with the implementation of incentive mechanisms for the development of small and medium-sized businesses.
7. Environmental sustainability: which refers to the implementation of policies that promote environmental management.
8. Economic recovery: with the necessary financing for the development of small and medium-sized industries.

M.Pino

Source: noticiasvenevision

(Reference image source: Ahsanization ッ on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Conindustria presented a plan for industrial competitiveness in Venezuela apareció primero en Bitfinance.

The growth of the industrial sector in Venezuela during the first quarter of 2025 was 8.2 %, according to the Venezuelan Confederation of Industrialists (Conindustria) in its recent Industrial Situation Survey (ECI).

Luigi Pisella, president of Conindustria, attributed the positive performance to “a combination of factors such as the exchange rate correction, the elimination of tax exemptions on imported products, and the promotion of domestic production as a substitute for imports.”

He emphasized in a press conference that when “public policies favor local production, more robust value chains, jobs, and a stronger economy are generated.”

Conindustria highlights in its report that 44 % of manufacturing companies expect their production to increase in the next quarter. However, “installed capacity remains underutilized: the average was 45.8 %, with differences depending on company size. Large industries operate at 47.2 % of their capacity, while small ones barely reach 25.8 %.”

The organization highlighted the need for tax reform, proposing changing the VAT declaration period from biweekly to monthly, as well as reducing VAT withholding from 75 % to 50 %, in addition to recognizing tax credits for uncompensated withholdings.

Pisella believes that implementing these suggestions would simplify the tax burden, which is key “to strengthening the sector’s competitiveness and projecting Venezuela as an export powerhouse.”

M.Pino

Source: eldiario

(Reference image source: Ümit Yıldırım on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Venezuela’s industrial production grew 8.2 % in the first quarter of 2025 apareció primero en Bitfinance.

The President of the Venezuelan Confederation of Industrialists (Conindustria), Luigi Pisella considers that the industrial sector obtained a slight growth by the end of 2021, reporting figures that reveal “a slight growth” in production and sales, compared to 2020, from 21% to 23% the installed capacity of the industries.

According to Pisella, despite the slight growth that “would be barely 10% of installed capacity”, it is a symptom of the recovery that the sector is experiencing in the country and aspires that for next year it will continue in a sustained manner in the time to fully recover the sector.

Additionally, President Conindustria admits that the small industry segment is presenting serious difficulties regarding production. “We have the problem in small industries, since 24% of them state that they have not produced,” said Pisella.

 Economic growth by 2022

The president of Conindustria trusts that growth similar to 2021 will be maintained next year. However, he admits that for this sustainable growth to occur, it is essential to review the amount of imports and the conditions in which they are entering the country.

Likewise, he indicated that it is necessary to take some measures such as “not continuing to protect imports, review the great fiscal voracity we have, improve public services and those related to fuel, as well as measures that help obtain financing.”

He was emphatic in pointing out the importance of complying with the sanitary regulations established by the country for the importation of products. “It must be required that all imported products entering the country comply with the formulation and labeling protocols required by Venezuelan health regulations.”

The Confederation recently released a statement stating that during 2022 they should develop actions to boost the economy and take place its definitive “take-off” and “stop being just a project and begin to execute the necessary and urgent measures and policies that have been widely discussed”.

He also indicated that “we industrialists want to contribute to the reactivation of the Venezuelan economy. That they allow us to continue believing and dreaming of a prosperous country”.

M. Rodríguez

source: finanzasdigital.com 

La entrada Industrial sector closes 2021 with slight growth apareció primero en Bitfinance.