The Executive Vice President of the Republic, Delcy Rodríguez, met with the Foreign Trade Committee (Comex) to evaluate the balance of national policies aimed at accelerating the import substitution mechanism. The purpose of this meeting was to review progress and consolidate strategies within the new economic model, which aims to boost domestic production.
During the meeting, the senior official emphasized that the guidelines established by President Nicolás Maduro have been crucial in strengthening the national industry. This approach prioritizes and enhances the production of goods made in Venezuela, laying the foundation for a more autonomous and resilient economy.
The also Minister for Hydrocarbons also emphasized, through her account on Telegram, that import substitution is a fundamental strategic mechanism. She explained that this policy not only promotes foreign currency savings for the country but also decisively boosts domestic production.
One of the key benefits of this mechanism, as noted the Vice President, is that it guarantees a full and stable supply of products while diversifying the nation’s economic matrix. This reduces dependence on external markets and strengthens productive sovereignty.
To achieve these goals, the national government continues to strengthen strategic alliances with both public and private companies. This joint effort is vital to continue promoting local manufacturing and, consequently, the country’s sustainable economic growth.
Rodríguez noted that, as a result of these policies, Venezuela has already achieved a domestic supply rate of around 98%. This achievement is the result of a virtuous cycle that integrates investment, domestic production, and import substitution.
Import substitution is consolidated as an essential pillar for the Venezuelan economy, enabling significant foreign currency savings and fostering the development of a robust and diversified national industry.