Venezuela promotes domestic production and reduces imports with its own funds

This Tuesday, July 29, the Economic Cabinet analyzed strategies to boost the country’s development through internal efforts, prioritizing economic diversification.

Executive Vice President Delcy Rodríguez led the meeting, which focused on the progress of the import substitution plan and its contribution to strengthening domestic production.

During the meeting, the performance of the various key sectors that comprise the economic diversification strategy of President Nicolás Maduro’s government was evaluated.

Likewise, Rodríguez highlighted the importance of providing technical support to the projects selected by young Venezuelans on July 27, linked to the Economic Transformation (T1):

«We will permanently support the execution of 26% of these youth initiatives, guaranteeing the necessary technical support,» stated the vice president through her official account on Telegram.

Promoting Local Production:

Rodríguez emphasized that the push for import substitution and support for youth projects seek to consolidate economic independence and enhance national talent.

«Venezuela is beginning a new cycle of politics and People’s Power, with youth leading the way!» she emphasized.