Business Opportunities in Venezuela
Venezuela currently offers an excellent development opportunity for foreign investors. It is a rapidly developing economy, with major investment plans in the oil, gas, petrochemical, mining, infrastructure, agriculture and tourism sectors. It is also a country with a privileged geographical location, abundant natural resources, a highly specialized workforce and a dynamic and modern market with high purchasing power.
Fun International Advisor offers unique advantages for business development in the country's fastest growing sectors:
The state-owned Petroleos de Venezuela (PDVSA) plans to increase crude oil production to 5.84 million barrels per day by 2015. To this end, it is establishing alliances with international companies in order to expand the infrastructure for the production, storage, transportation and processing of crude oil. In this sense, the development plans of the Orinoco Belt, which has the largest proven reserves in the world, stand out.
Corporación Eléctrica Venezolana (CORPOLEC) has been implementing an ambitious plan to strengthen and diversify the country's electricity system by building new power plants and remodeling existing ones, while strengthening the transmission and distribution system and investing in the development of new alternative energy sources.
The Venezuelan government plans to continue increasing investment in its social housing program, as well as the construction and rehabilitation of highways, roads, bridges, railroads, health centers, education and infrastructure of tourist interest.
Venezuela concentrates 2% of the world's mineral supply, including iron, coal, bauxite, phosphate and limestone. The abundance of these reserves and their low level of exploitation are favorable circumstances for the incorporation of new actors in the mining industry and its entire chain. The sector is reserved for direct government exploitation; however, private capital may participate under concessions.
The Venezuelan steel industry has an excellent infrastructure and access to foreign markets thanks to its geographical location and the trade and integration agreements signed by the Republic. Currently, Venezuelan production represents 7.55% of the Latin American steel market, which leaves a wide margin for growth since the country has a high potential yet to be developed.