Fedecámaras economic initiatives and China-Venezuela trade

Fedecámaras has initiated efforts to drive economic reconstruction in Venezuela through private sector involvement and strategic planning. In the Nueva Esparta region, Gabriel Briceño, president of Fedecámaras Nueva Esparta, projected increased private sector participation in managing electricity and water services in Margarita. He noted that the new National Electric Service Law provides the legal mechanisms necessary to attract capital, mentioning that agreements have already been signed with international corporations, such as General Electric, to integrate private entities into the electrical system. Expanding to a national level, Felipe Capozzolo, president of Fedecámaras, introduced an ‘Investment and Employment Plan’ focused on labor training, technology access, export orientation, and institutional strengthening. Economic data from the second quarter of 2026 showed a 0.5% year-on-year increase in private sector business volume, led by construction and manufacturing, while business confidence remained at 104.2 points with growth expectations projected at 9.7% for the end of the year. Recent reports indicate the agricultural sector has grown by more than 5% in 2026, with animal production increasing by 5.14% and vegetable production by 2.2%, according to Delcy Rodríguez. Regarding labor, Capozzolo has emphasized tripartite negotiations between the government, unions, and businesses to gradually increase worker income and implement savings schemes. He maintains that wage increases must align with productivity and competitiveness, calling for a revision of the Labor Law to manage corporate costs related to specific calculation methods. Separately, the National Federation of Public Employees (Fedeunep) has proposed an emergency $300 year-end bonus to mitigate loss of purchasing power. Complementing these domestic initiatives, trade relations with China are evolving. The China-Venezuela Chamber of Commerce and Industry reports growing non-oil commerce, with imports from China—primarily vehicles, electronics, and machinery—exceeding $3.5 billion.