During the closing ceremony of the International Entrepreneurship Congress, ¡Conecta, Crea y Emprende! (Connect, Create, and Undertake!), the President of the Bolivarian Republic of Venezuela, Nicolás Maduro Moros, reported that in 2024, the Entrepreneurial Engine grew by 59% and reached nearly 1.8 million projects in the country.
In addition, the President noted that this was achieved through a combination of public and private financing, various support factors, and the Law for the Promotion and Development of New Entrepreneurship, which was approved in 2021.
He also indicated that the Entrepreneurial Engine has been boosted through the implementation of the 4Fs (Training, Formalization, Financing, and Fairs), four areas considered fundamental pillars for the development and support of entrepreneurs in the country.
In this regard, he emphasized that the country’s economy, in 2024, grew 9% globally, with the activation of the drivers of the Bolivarian Economic Agenda:
«We are facing a tremendous fight against bureaucracy and corruption,» the President emphasized.
Growth of the Oil Economy:
Regarding this area, the National Dignitary affirmed that Venezuela has the largest certified oil reserves on planet Earth, and that studies are currently underway that could increase the oil recovery factor by 20 or 30%, or even more.
Along these lines, he noted that the Venezuelan nation is certifying the fourth-largest gas reserves in the world throughout the northern Caribbean region of the country. Therefore, he asserted: «Venezuela will be part of the global equation of energy security and sovereignty, and no one will be able to take us off from it, but now, with sound policies and correct strategies.»