Venezuelan industry faces power shortages and reconstruction planning

The Venezuelan industrial sector is facing significant challenges due to electricity shortages and the need for national reconstruction following recent seismic activity. Tito López, president of Conindustria, reported that only 5% of industries possess the infrastructure to fully self-generate their electricity consumption, while 59% have only partial capacity for short-term contingencies. These power failures resulted in a 26.5% loss of working hours during the first quarter of the year, with the central region, Zulia, and the Andean region being the most affected.

In response to these energy fluctuations and the aftermath of the June 24 earthquakes, Conindustria, the Cámara de la Construcción de Venezuela (CVC), and the United Nations Development Programme (PNUD) are collaborating on a national reconstruction roadmap. The strategy emphasizes a “produce first in Venezuela” approach, prioritizing local manufacturing to supply materials for rebuilding efforts. To support this, industry leaders are proposing a “Ley Puente” (Bridge Law) to reduce bureaucracy and calling for fiscal and customs relief to stimulate investment and protect domestic production chains.