The president of the Federation of Chambers and Associations of Commerce and Production of Venezuela (Fedecámaras), Felipe Capazzolo, spoke about the economic recovery plan proposed to government authorities. This plan focuses on new business models, import substitution, and increased exports.

It also proposes attracting investment and a market penetration mindset. According to Capazzolo, it is essential to be mentally prepared for growth.

The executive asserted that the country can develop a plan with effective solutions. “We can have a fairly clear objective, and I am sure that we can raise our Gross Domestic Product (GDP), employment, and investment figures, and we can be on a more developmental path for the country,” he emphasized.

Regarding exports during the past year, “the trade association representative explained that there is significant room for improvement in Venezuelan exports, and there is much work to be done. That is why the focus and emphasis are on the capacity and the will to export.”

He added that “in 2023, Venezuela exported 19 billion dollars, of which slightly less than 3 billion came from the non-oil, non-gold, non-extractive sectors of the economy.”

There is still a long way to go, Capazzolo said, as the focus remains on the export of raw materials. According to the president of Fedecamaras, the next big step is exporting finished products: “Exporting with added national value means exporting good services. The crucial step is exporting the sacrifice and ingenuity of our people embodied in a high-quality product recognized internationally.”

M.Pino

Source: meridadigital

(Reference image source: CHUTTERSNAP 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 Fedecámaras proposes a plan to increase exports from Venezuela apareció primero en Bitfinance.

The Venezuelan government, through the Ministry of Industry and National Production, signed an agreement with companies in the plastics industry to promote good business practices and import substitution.

The agreement is part of the “country’s economic recovery program, which is intended to support and protect national businesses.”

The initiative involves the Ministry of Industry and National Production, investors, and representatives of the plastics industry. It is expected to begin with “a production phase in 10 industries that produce different types of plastic that other national companies need for their processes.”

At the same time, the Ministry of Productive Agriculture and Lands, the Ministry of Industries and National Production, and the International Center for Productive Investment (CIIP) announced a “national investment agreement with representatives of the sugar sector in western Venezuela, with the aim of promoting the reactivation of the country’s agroindustry.”

The main objective is to strengthen sugar production in the western region by reactivating the installed capacity of agroindustrial plants.

M.Pino

Source: bancaynegocios

(Reference image source: Jonathan Chng 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 signed agreement to activate 10 plastics industries apareció primero en Bitfinance.

The approval, by the National Assembly, of the Law on public purchases will allow the acquisition of nationally produced goods, which will promote the progressive substitution of imports.

Orlando Camacho, president of Fedeindustria and vice president of the Commission of Economy, Finance and National Development of the National Assembly, pointed out that “the bill contemplates recognizing the installed capacities, the talent and the existing machinery, so that those resources that the republic are used to their maximum capacity by the public sector and the private sector.”

The new law will be of great importance for the country because all public sector acquisitions: national, regional and municipal will have a “public purchasing system” where all the products made in the country, such as food, medicine and others have priority when the institutions carry out their operations.

According to what was expressed by Camacho, with the consent of this law the national government also aspires to save foreign currency “because it is not the same to import a product with 100 % of the currency than to bring imported or national raw material and add value and place it in the internal market, mainly in the public sector, because it generates income and employment for workers.”

The law would also benefit the private sector because they will be able to purchase goods manufactured in the country as long as they can satisfy the needs of supply and demand, as well as the quality of the products that meet the standards required by consumers.

New laws in the economy sector

The vice president of the Commission of Economy, Finance and National Development of the National Assembly indicated that there are several bills that are waiting to be approved before the end of 2021, among which are: the law to promote new enterprises, the law of special economic zones and the study to bring the digital commerce law to the first discussion.

The law of new ventures plans to promote the development of new companies, as part of the economic recovery of the country. For this it is necessary a greater fluidity in the procedures for the registration of the different enterprises, as well as the exemption of some national taxes in regional and municipal fields.

M. Rodríguez

Source: el universal.com

La entrada New public purchases law will stimulate import substitution apareció primero en Bitfinance.