Skepticism overshadows Venezuela’s Special Economic Zone for Nueva Esparta

Skepticism overshadows Venezuela’s Special Economic Zone for Nueva Esparta

 

The presentation of the final draft of the Law of ‘Special Economic Zones’ for Nueva Esparta State in eastern Venezuela, continues to generate skepticism among businessmen affiliated with the regional Fedecámaras and the Chamber of Commerce, Free Port and Production of this state. This dims the possibilities of economic recovery in the short and medium terms.

By Correspondent lapatilla.com

For example, Jesús Irausquín, regional president of Fedecámaras, insisted on the urgency of improving public services, which in his view is the first fundamental step to ensure the success of the Special Economic Zone on the islands of Margarita, Coche and Cubagua.

The business leader confirmed that this week they established work sessions with representatives of the State’s Special Economic Zone Authority, in which they stated the need for both parties to work in complete agreement to guarantee the success of the project.

Irausquín announced that it is necessary to consolidate legislation that generates confidence in investors and can pave the way for the return of national and foreign investments and thus enable the recovery of the regional economy.

Long term results

José Gregorio Rodríguez, President of the Chamber of Commerce, Free Port and Production of Nueva Esparta, foresees that the regulations to be enacted as well as a set of adjunct actions should also satisfy the expectations they have. However, it is realistic in terms of the time to see economic changes in the short and medium term.

“With great responsibility we must also convey to all that a special economic zone is not built in six months, it is not built in one year. A special economic zone, and this is similar in other parts of the world, takes many years to become a reality. That’s why we say, maybe it’s our children, our grandchildren, who will enjoy its benefits, in the future,” Rodríguez pointed out.