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)

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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)

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