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Venezuela's minister: Opportunities are enormous here

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Staff writer ▼ | June 29, 2016
Exports from Venezuela have surged in Q1-FY2016, compared to same term last year, Venezuelan Minister of Foreign Trade and Investment, Jesús Faría, said.
Jesús Faría
Investing in LatAm   Venezuelan government authorities have held dozen meetings
“Everything that has to do with energy and its byproducts” is being mainly exported, the top government authority affirmed. However, there are few new exports, he conceded. “We are starting in an economy in crisis. We are in an economy in crisis and we will transform it,” he promised.

“We have had a very important receptivity of people willing to back this endeavor,” said the minister. For him, there is the vocation to start a new process oriented to foreign markets.

Faría noted that Venezuelan government authorities have held dozen meetings with hundreds of businesspersons, in which they have queried into the hurdles. “There are troubles with raw materials; troubles with the issue of foreign currency.”

The minister insisted on saying that an atmosphere of trust is being created for businessperson to bring in their investments “gradually, slowly, just like our economic recovery will be.”

Similarly, Faría noted that the Venezuelan government embraces foreign investment. “We have met with many businesspersons; we have met with European, Asian and American businesspersons. There are enormous opportunities to invest in this country; shall foreign businesspersons come to Venezuela as a real opportunity to settle down here,” he remarked.

“This government is an enemy neither of domestic private investment nor of foreign private investment. We welcome any type of dialogue,” he added.