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)

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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.