🛢️Law for the Promotion of Non-Oil Exports
The Law for the Promotion of Non-Oil Exports was published in Official Gazette No. 6,824 Extraordinary on July 18, 2024.
The Law for the Promotion of Non-Oil Exports is a strategic initiative to diversify the Venezuelan economy and open new horizons for the export sector.
PRINCIPLES:
Social justice, efficiency, comprehensive economic development, competitiveness, environmental protection, solidarity, economic cooperation, integration, legal security, transparency, and social well-being.
GENERAL OBJECTIVES:
Improve quality of life, generate foreign currency and jobs, create national added value, and strengthen economic sovereignty.
Transform the national economic structure towards a productive economy by increasing and diversifying non-oil exports.
Modernize, streamline, and make the national production of non-oil goods and services more competitive.
Simplify production and export processes by utilizing information and communication technologies.
STATE OBLIGATIONS:
Support exporters with public policies that stimulate the export process.
Simplify and optimize administrative procedures for production and export.
Facilitate the placement of goods and services in international markets.
Promote training and education programs for exporters.
Develop infrastructure that enhances export capacity.
Strengthen the productive capacities of the export sector.
EXPECTED BENEFITS:
Increase in non-oil exports: Generation of foreign currency for the Venezuelan economy.
Diversification of the economy: Reduction of dependence on the oil sector.
Job creation: Boost to the national productive sector and generation of new employment opportunities.
Greater competitiveness of Venezuelan companies: Strengthening of the export sector and improvement of the country's image in the international market.
CCSCEX | CARACAS COMMODITY EXCHANGE 2024 ®©.
All rights reserved.
Last updated