the Bolivarian Republic
Venezuela is an Andean, Caribbean, and Amazonian country, all at the same time. Conveniently located at the North end of the South American continent, it has an enormous potential for development and investment. It is an ideal site for international business operations due to the combination of its proximity to Latin American and Caribbean markets and its relatively short distance from North America and Europe. The country has a long tradition in the production and export of petroleum and gas products, and Venezuela’s proven hydrocarbon reserves are among the largest in the world. This fact, combined with its substantial hydroelectric resources, allows the country to be characterized as one of the most important energy sources of the Western Hemisphere, and certainly as its main energy exporter.
Opportunities for investment and trade in Venezuela are abundant in sectors such as oil and gas production and distribution, electrical distribution, petrochemicals, aluminum, steel, agriculture, tourism and consumer products and services, to name but a few. The country’s extensive participation in regional and sub regional trade agreements allows many Venezuelan products to be exported with reduced tariffs to other Latin American countries, and with no tariffs in the case of the Andean Community, a five-country market with a population of more than 100 million. Many of its products enjoy preferential access to North American and European markets as well. Venezuela’s location, the diversity of its resources, its modern infrastructure and its present and future economic prospects make it a natural candidate for companies in search of international investment opportunities which guarantee long term profitability.
There is no doubt petroleum has been the key word in Venezuela’s projection worldwide. And petroleum has been truly crucial to the country’s development. But far beyond its oil-based economic condition, Venezuela’s is an emerging and open economy.
Venezuela is endowed with the highest reserves worldwide of iron-ore, nickel, niobium, thorium, rare earth, zinc, gold and tantalum, while the wealth in our mineral deposits remains untapped. Venezuela’s territory comprises one of the largest exploitable areas of forest in Latin America. With a tropical climate ideal for rapid growth, our country offers high yields and low costs.
The country’s enviable location offers plenty of tourism options. Tourists will enjoy warm Caribbean beaches, the snow-covered Andean mountain range and exotic tropical forest. And our tourism potential remains huge.
The telecommunication industry alone will invest roughly US$5 to US$10 billion during the next decade, whereby its privileged geographical location has encouraged over 20 multinational corporations to make of Venezuela their business hub in Latin America and the Caribbean.
ALBA: Alternativa Bolivariana para la América