Venezuela reviews import substitution mechanisms
Venezuela's Executive Vice President, Delcy Rodríguez, indicated during the recent Venezuelan Foreign Trade Committee (Comex) that the country is reviewing the import policies promoted by President Nicolás Maduro in order to strengthen domestic industry
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.”
Ver esta publicación en Instagram
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)
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
