The CEO of Empresas Polar, Lorenzo Mendoza, stated that Venezuela has formally entered a new phase of economic reconstruction in which the private sector and free enterprise will play a leading role, following the exhaustion of the statist economic model.

The statements were made during the presentation of the “1,000 Companies” program, a strategic initiative developed by Empresas Polar with the objective of offering technical training, continuing education, and comprehensive financing schemes to various productive projects nationwide, according to a report by the publication Banca y Negocios.

Mendoza emphasized the urgent need to move beyond self-employment or the informal subsistence economy and decisively advance toward “an organic entrepreneurial development process,” one that allows for the consolidation of formal, technically sound, sustainable businesses with the capacity for scalability in the market.

During his address, the business leader also analyzed the profound structural distortions that still constrain the operation of the Venezuelan productive sector, placing particular emphasis on the paralysis of credit.

“In Venezuela, there are many banks, but there is no banking system,” Mendoza lamented, demanding the establishment of financial mechanisms that reopen investment credit and the flow of working capital — essential factors for reactivating an industrial sector that was severely decapitalized after being unable to withstand “the blow of inflation and the market downturn.”

Faced with this situation, Mendoza urged the construction of a business ecosystem with a genuine social purpose, capable of combining innovation with technical rigor to overcome the shortcomings of the economic environment.

Finally, he reaffirmed his conviction about the country’s direction, stating: “I have no doubt that we are in a new stage, and I also have no doubt that every Venezuelan who thinks about the future is reflecting on this,” reiterating that technical training, capital investment, and the creation of business opportunities are the definitive path to overcome the past model.

With information from DOBLELLAVE

(Reference image: Vitaly Gariev on Unsplash)

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La entrada Lorenzo Mendoza asserts private enterprise will lead Venezuela’s new stage apareció primero en Bitfinance.

The president of the Federation of Chambers and Associations of Commerce and Production of Venezuela (Fedecamaras), Carlos Fernández, assured that the State must allow the granting of bank credit for economic recovery.

“To reach a better dynamism in the economy, it will be essential for financial credit to return. It will be essential to obtain percentages equal to or greater than those estimated by the Executive. If there is no credit, it will be difficult to achieve those goals,” Fernandez emphasized.

The free market will stabilize the economy

This statement was made in reference to the one released by president Nicolás Maduro concerning an economic growth of more than 4% in Venezuela by 2022.

The president of Fedecamaras insisted that there is optimism towards the understanding of the importance of the free market for the stabilization of the economy.

Regarding Maduro’s assertion that an official dollarization will not take place, Fernández emphasized that the ideal in any modern financial system is that the current currency in dollars enters the bank and becomes productive credit.

Fedecámaras: Sin crédito financiero será difícil lograr metas planteadashttps://t.co/nTYAazHtoe

— FEDECAMARAS (@fedecamaras) January 17, 2022

Source: doblellave

La entrada Credit is essential to achieve growth, according to Fedecamaras apareció primero en Bitfinance.