The Government of Venezuela will work with private parties to boost local production

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Caracas, Jul 20 (EFE) .- The Government of Venezuela announced on Tuesday the installation of a work table with the private sector to boost national production and replace imported products, in order to achieve “foreign exchange savings” and bet to the “transformation” of the economic model.

“A table is established between the national government and the private sector to bring products that may be susceptible to substitute imported products and, based on that, we develop development policies and promote national production,” said the Executive Vice President , Delcy Rodríguez.

The also Minister of Economy and Finance made this announcement when participating in the annual assembly of the country’s main employers’ association, Fedecámaras, a sector with which the ruling Chavismo has marked differences and which it accused in previous years of being behind an alleged ” economic warfare “.

Rodríguez explained that the government’s interest is “saving foreign currency because” they are under “permanent attack.”

“What does this mean? The transformation of the economic model of income dependent on technological mechanisms under colonial formats (…) means that we have an open, productive, diversified economy,” he continued.

He also said that what they asked the private sector is the “commitment” to “improve the income system of active and passive workers” and pensions.

The Government of Nicolás Maduro has been giving, since 2018, a gradual turnaround to the economic system and after years of accusing the private sector of waging an “economic war”, it is looking for a way to build bridges.

The president now makes constant calls to investors to create alliances.

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For this reason, it created the “Anti-Blockade Law”, a rule with which it seeks to circumvent US sanctions and prevent it from dealing with investors or companies allied to Washington.

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