Venezuela’s Vice President, Delcy Rodríguez, recently led the Venezuelan Foreign Trade Committee (Comex) to evaluate the import policies promoted by President Nicolás Maduro.

The objective is to conduct a study of measures to strengthen domestic industry, save foreign currency, and promote domestic production, “as part of the new economic model that prioritizes what is made in Venezuela.”

 

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Una publicación compartida por Delcy Rodríguez (@delcyrodriguezv)

Regarding the meeting, Rodríguez stated on her Telegram account: “We reviewed import substitution, a strategic mechanism for saving foreign currency and boosting domestic production, ensuring full supply and economic diversification.”

Later, during the National Council for Productive Economy, the vice president declared that “through the import substitution policy, imports of refined sugar have been reduced by 96 %, paddy rice by 72 %, white corn by 100 %, soybeans by 12 %, and soybean meal by 20 %.”

M.Pino

Source: radiomiraflores

(Reference image source: Andy Li on Unsplash)

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La entrada Venezuela reviews import substitution mechanisms apareció primero en Bitfinance.