The president of Conindustria, Luigi Pisella, giving statements to the press. File photo.
The president of the association of private-sector industrialists of Venezuela, the Venezuelan Confederation of Industrialists (Conindustria), Luigi Pisella, stated that the sector is expected to grow by at least 13.6% by the end of 2024.
In the third quarter of this year, growth in foreign trade was 7.6% while the total accumulated growth for during January-September was 16%, Pisella said on Friday, November 22. He added that the projection for the private sector at the national level for the end of 2024 may not be similar to other economic sectors of the country.
The Conindustria chief further added that the Venezuelan industrial sector is currently working at 43.8% of its installed capacity, while the workforce receives an average salary of approximately $223. Conindustria has historically had a belligerent anti-Chavista stand, but in recent years—at least for the public opinion—has decided to focus on economic growth instead of politics.
Regarding the implications of the Operations and Leasing Prohibition Act (BOLIVAR Act) approved by the US House of Representatives for Venezuela’s industrial sector, Pisella urged the political sectors to avoid an escalation.
Sanctions caused a lot of damage
Pisella said that “the [illegal US] sanctions have caused a lot of damage to the country, to the people and to the industry. We urge for maintaining flexibility,” adding that the first consequence of the coercive measures imposed by Washington against the country has had a devastating effect on inflation.
“By the end of 2023 we had an inflation above 180%—this is the effect of taking away a country’s main resources,” he said.
He added that Conindustria’s work will be to “influence public policies so that the national industry advances,” with the commitment of “supplying the market with a diversity of products, as has been done, and to ensure that there is more supply than demand, so that the consumer has the opportunity to access and choose from various products.”
(RedRadioVE) by Victoria Torres, with Orinoco Tribune content
Translation: Orinoco Tribune
OT/JRE/SC
