Venezuela welcomes international investors, offering favorable conditions and reduced risks. New policies and institutions support economic revitalization, diversification, and compliance with international export standards.
Venezuela Opens Doors to International Investors
Venezuela is actively welcoming international investors, presenting a range of opportunities with minimized risks. The country has established a guarantee framework for investments, complete with new legal instruments and institutions to ensure proper implementation. These efforts aim to revitalize the economy, diversify internal production, and adhere to international standards for exporting various commodities.
The country boasts significant productive potential, a large industrial park, and abundant natural resources, making it an attractive destination for investors. By fostering a new productive model and encouraging the participation of both national and international stakeholders, Venezuela seeks to strengthen its economy and provide concrete opportunities for those willing to invest.
To facilitate these investment opportunities, Venezuela has established the International Center for Productive Investments (CIIP). This public institution is tasked with promoting and attracting foreign capital, offering legal and technical assistance, expedited administrative procedures, legal security, special incentives, access to strategic investment opportunities, and various productive business schemes. The CIIP supports short, medium, and long-term investments with guaranteed financial returns.
The CIIP has prioritized seven key sectors of the national economy to highlight in the international investment arena:
- Energy: Venezuela holds the world’s largest oil reserves and the eighth-largest gas reserves.
- Mining: The country has significant reserves of gold, diamonds, iron, bauxite, and coal, along with non-metallic elements.
- Industry: Venezuela has 270 industrial parks with vast productive potential.
- Tourism: The nation offers natural wonders and a unique cultural heritage.
- Forestry: Over 3 million hectares are available for wood and non-wood forest product production.
- Agriculture: The country has more than 20 million arable hectares and 177 million hectares for livestock production.
- Fishing and Aquaculture: Venezuela has over 600,000 km² of sea and hydrographic basins ideal for these activities.
Venezuela’s proactive strategy aims to position the country as a prime international investment destination. This strategy is part of an unprecedented economic transformation that saw a 5% growth in the national economy in 2023, with projections of 8% growth for 2024, according to national authorities and the Economic Commission for Latin America and the Caribbean (ECLAC). Venezuela is now among the top six Latin American destinations for investment.
Source: Embassy of the Bolivarian Republic of Venezuela in Singapore
