{"id":17209,"date":"2026-11-02T10:44:29","date_gmt":"2026-11-02T07:44:29","guid":{"rendered":"https:\/\/harici.com.tr\/en\/?p=17209"},"modified":"2026-11-02T10:44:29","modified_gmt":"2026-11-02T07:44:29","slug":"venezuela-to-privatize-assets-and-return-firms-delcy-rodriguez-says","status":"publish","type":"post","link":"https:\/\/harici.com.tr\/en\/venezuela-to-privatize-assets-and-return-firms-delcy-rodriguez-says\/","title":{"rendered":"Venezuela to privatize assets and return firms, Delcy Rodr\u00edguez says"},"content":{"rendered":"<p>Venezuela&#8217;s interim president, Delcy Rodr\u00edguez, on Thursday <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/venezuelanalysis.com\/news\/venezuela-rodriguez-pledges-to-return-nationalized-assets-to-former-owners\/\">defended<\/a><\/span> a plan to privatize state assets and return nationalized companies to their former owners.<\/p>\n<p>In a televised address to the nation, Rodr\u00edguez said: &#8220;I have ordered an assessment of non-essential state assets, so that these assets can be offered to the private sector or returned to their previous owners.&#8221; She added:<\/p>\n<p>&#8220;This process is already under way. The right to private property is guaranteed by our Constitution.&#8221;<\/p>\n<p>In April, the interim president established a commission tasked with evaluating the &#8220;strategic&#8221; value of state enterprises, land, and other assets to determine whether they should be retained, privatized, or liquidated.<\/p>\n<p>During the 2000s, former President Hugo Ch\u00e1vez carried out a nationalization programme aimed at consolidating state control over strategic sectors including electricity, telecommunications, and heavy industry.<\/p>\n<p>Having enacted a comprehensive, business-friendly reform of hydrocarbons and mining legislation earlier this year, Venezuela&#8217;s parliament is on the verge of approving the partial privatization of the electricity sector.<\/p>\n<p>Foreign companies are also in talks to acquire the country&#8217;s largest aluminium smelter, while a consortium led by Sunergon Oil is reportedly pushing to take over several industrial facilities linked to the oil industry.<\/p>\n<p>Luigi Pisella, a business representative heading the commission, recently presented a legislative proposal.<\/p>\n<p>The legislation aims to guarantee the participation of local capital alongside multinational corporations in privatized public entities.<\/p>\n<p>In an interview with the magazine Banca y Negocios, Pisella said:<\/p>\n<p>&#8220;I have not encountered any resistance to this idea. Most investors agree that having local partners, whose experience is vital for navigating the complex Venezuelan environment, is indispensable.&#8221;<\/p>\n<p>Pisella added that &#8220;different models of private-sector participation&#8221; were being evaluated, but he rejected &#8220;strategic alliances&#8221; in which the state retains ownership rights while transferring assets through concession-type agreements.<\/p>\n<p>The business spokesperson argued that &#8220;no one will invest&#8221; unless ownership is transferred completely.<\/p>\n<p>In her Thursday address, Vice President Rodr\u00edguez also promised that workers&#8217; income would be increased quarterly next year at a rate at least matching GDP growth:<\/p>\n<p>&#8220;For 2027, we are planning increases in workers&#8217; income across four distinct periods; the amount of these increases will never fall below the economic growth of the preceding quarters.&#8221;<\/p>\n<p>Rodr\u00edguez made no mention of adjusting the minimum wage, which has been frozen since 2022 and is currently worth approximately 0.15 US dollars.<\/p>\n<p>Instead, Venezuelan authorities have leaned heavily on non-wage bonuses. These bonuses act as a de facto subsidy for employers, as they are excluded from holiday pay, severance calculations, and other labour entitlements.<\/p>\n<p>Public sector employees currently receive a minimum monthly income of 240 dollars.<\/p>\n<p>Although Venezuela&#8217;s GDP is projected to expand by 5% to 10% in 2026, increasing non-wage bonuses at that pace falls short of keeping up with inflation.<\/p>\n<p>The financial website Ecoanalitica estimates that prices measured in US dollars will climb by 20% to 30% in 2026.<\/p>\n<p>This means that an income adjustment tied to GDP growth would result in an erosion of purchasing power.<\/p>\n<p>In her address, Rodr\u00edguez went on to praise ongoing labour reform talks involving business lobby groups and selected trade unions.<\/p>\n<p>Private-sector associations such as FEDECAMARAS and FEDEINDUSTRIA want to lower labour costs for employers, further reduce social security contributions, and eliminate the retroactive application of severance pay and other benefits, ensuring that future wage increases do not trigger corresponding liabilities.<\/p>\n<p>Finally, the interim leader defended recent judicial reforms and ongoing talks with a faction of the US-backed Venezuelan opposition that will appoint a new Supreme Court and National Electoral Council.<\/p>\n<p>The US State Department had claimed that new presidential elections would be held in 2027.<\/p>\n<p>Rodr\u00edguez did not provide any specifics regarding the electoral timetable, stating only: &#8220;Elections will be held under the auspices of a renewed electoral authority and before the eyes of the world.&#8221;<\/p>\n<p><!-- notionvc: e4fd4fec-71f0-43f5-a32b-17f142fad3d9 --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Venezuela&#8217;s interim president, Delcy Rodr\u00edguez, on Thursday defended a plan to privatize state assets and return nationalized companies to their former owners. In a televised address to the nation, Rodr\u00edguez said: &#8220;I have ordered an assessment of non-essential state assets, so that these assets can be offered to the private sector or returned to their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17210,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ep_exclude_from_search":false,"footnotes":""},"categories":[176],"tags":[22887,7298,22886,22889,22884,22885,503,2659,22888,22890,22882,103,22796,5817,22891,22883,149,2240,1406],"class_list":["post-17209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-america","tag-aluminium-smelter","tag-delcy-rodriguez","tag-ecoanalitica","tag-electricity-sector","tag-fedecamaras","tag-fedeindustria","tag-headline","tag-hugo-chavez","tag-hydrocarbons-reform","tag-labour-reform","tag-luigi-pisella","tag-minimum-wage","tag-national-electoral-council","tag-privatization","tag-public-sector-wages","tag-sunergon-oil","tag-supreme-court","tag-us-state-department","tag-venezuela"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - 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