Venezuela will promote development with four special economic zones

The president of Venezuela, Nicolás Maduro, issued on Thursday the decree for the activation of four special economic zones (ZEE) as a step towards a post-oil model

During a conference on Thursday with the country’s governors, mayors and business sectors, Nicolás Maduro decreed four special economic zones (ZEE in Spanish) that will allow, according to the president, the transition towards a post-oil economic model.

Maduro pointed out: “I am sure (that this) will allow us (…) to continue advancing, with great determination, with great perseverance, in the construction of a new economic model that allows the integration, perfectly, of the economic, productive, technology from the different regions of the country, with new sources of national (…) and international investment.”

The first ZEE is La Tortuga Island, where “one of the most important (tourist) projects” will be developed in the Caribbean, “made” by “an Italian company” to promote the activity. In second place is the Paraguaná peninsula, in the Falcón state, in the west of the country, facing the Caribbean Sea. Then, in third place, is the coastal state of La Guaira, where the development of “activities related to tourism, fishing and industry” is planned. And fourth, the military ZEE in the state of Aragua (central-north) for the “development of all the scientific, technological and industrial potential of the Bolivarian National Armed Forces (FANB).”

According to Maduro, these special economic zones will promote the “path of technological and industrial development” and the “diversification of sources of income” for the nation.

The executive vice president, Delcy Rodríguez, who participated in the meeting, indicated that among the incentives established by the ZEE Law is “a 50 % reduction in port and customs services for exports”, in addition to the “reimbursement of Tax On Income (ISLR), which can reach, in the first six years, up to 100%, depending on the export activity.”


Source: swissinfo

(Reference image source: @PresidencialVen, on X social network)

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