Falcón installs Venezuela’s first Regional Council of Economy

The state of Falcón has installed Venezuela’s first Regional Council of Economy, a permanent body designed to foster collaboration between the public and private sectors. Presided over by Governor Víctor Clark, the council aims to resolve critical bottlenecks, simplify administrative procedures, and promote productive development across five territorial axes. The initiative has received support from major national guilds, including Fedecámaras and Consecomercio.

During the installation, Richard Ujeta, president of the Electronic Commerce Chamber (Cavecom-e), highlighted the significant expansion of the digital economy, noting a 125% growth in 2025. He reported that mobile payments are seeing high transaction volumes, with peaks exceeding 8,000 transactions per minute, and noted growth in the 'buy now, pay later' (VNPL) and delivery sectors.

Representatives from the Industrial, Commercial, and Agricultural Chamber of Miranda (CICAF) expressed support for the council as a space for convergence, though they emphasized the need to address challenges such as fiscal burdens, utility costs, and electricity outages. The council’s work will be supported by the UNDP, prioritizing sectors including hydrocarbons, goat livestock, tourism, and digital modernization.