00:00La inversión productiva crece más que el Producto Interno Bruto, estamos asegurando inversiones y garantizando el futuro, lo que se
00:09llama, estamos sembrando el futuro.
00:12We are sowing for the future.
00:13Then, I would like to refer to the recovery of the hydrocarbon industry that was following a process of sustained
00:21growth.
00:25Then there was a decrease of production in December due to the naval blockade, and the month of January, there
00:33were several events.
00:34The first event is the recovery of the commercialization agreements between PDVSA and the United States.
00:41Without a doubt, it's a natural market for Venezuelan hydrocarbon.
00:48Historically, that's represented 40% of the hydrocarbon market.
00:56We also add the push that represents for the enactment of the new organic law of hydrocarbons in our country,
01:05which gives important mechanisms and management models where the private sector, the private business,
01:17has important management in production, where there exists flexible mechanism in terms of taxes,
01:25and we also add alternative mechanisms for resolving conflicts in international arbitrage,
01:36and that's where we want to make visible what it would mean an industry and an economy that can have
01:45freedom in the sovereign exercise of its competence.
01:50We have always taken a comparison of a neighboring country, Colombia.
01:56Oil production in Colombia and oil production in Venezuela, historically, have always been hand in hand.
02:03If there was a situation of crisis at the international level, they would behave the same way.
02:09But without a doubt, while sanctions mark an important difference, you can see the lines go very far from each
02:20other in terms of progression, in terms of production.
02:22Well, I would like also to highlight an important achievement for the year 2025, where Venezuela finally, after a decade,
02:34had zero imports of fuel.
02:36All fuel that is required for national consumption is guaranteed by national production of our hydrocarbon industry.
02:49This is the importance to have positive environments. What do these positive environments mean?
02:55It means that exists judicial security. That's why the importance of the new laws, the hydrocarbon law, which has already
03:03been enacted,
03:04and the laws that are currently being discussed, that will also have an important impact in different aspects of the
03:11economy,
03:12but also highlight what represents the main engine of the economy, which is the engine of the hydrocarbon.
03:21How Venezuela has the greatest oil reserve in the world,
03:30and being one of the countries where the production costs are similar to those of Saudi Arabia,
03:37which constitutes one of the lowest in terms of production costs in the world,
03:41but the new law of hydrocarbons, look how important it is.
03:46When we take a barrel of oil, its production cost is 64% of that barrel has space for negotiation
03:57with investors
03:58in terms of reduction of taxes and tariffs, and more important profits.
04:08If there is a great investment, of course, the revenue is going to be greater within that 64%,
04:14where the law gives a broad margin of flexibility for negotiation,
04:18where also we establish with international protocols.
04:24Why can Venezuela show?
04:26Well, the largest reserve of oil, one of the largest in terms of gas,
04:3580% of Venezuelan gases and associated gas with 2,600 tons of gold have been proven,
04:43and 5,200 in fur, with vast wealth in mining, with water, with energy.
04:52It's one of the most important aspects of these sectors that without a doubt can be promoted to receive investment,
05:01and that those investments have an environment of safety.
05:06That's the most important thing.
05:08There is a number to show here.
05:10Venezuela is today one of the most secure countries in the region,
05:14with three homicides by 100,000,
05:17when Latin America has a 16.3% of homicide by 100,000 inhabitants.
05:27Venezuela today has an environment of safety and stability.
05:34But there are certain aspects and challenges that must be dealt with.
05:39There are social debts that are very important.
05:41That's why in this stage of recovery,
05:44well, the stabilization of those social wounds that must be tended to,
05:50so it has to be the economic growth we are talking about,
05:54that Venezuela this year, in two, three years,
05:56can maintain a stable economic growth of the GDP of two digits.
06:03That's why it's important for the environment for investment,
06:06it can be provided in safety,
06:10where the investor knows that indefinitely of changes in political governance
06:18or the context of restrictions,
06:21the investor knows that there's security,
06:24that there are laws in Venezuela that allow for the return of his investment safely.
06:30So we are in a process of stabilization,
06:35of execution of reforms that are required for that productive environment
06:40and to receive investments that allow to diversify the productive engine
06:46of the Venezuelan economy as we have seen it.
06:48Not only important growth in the sector of hydrocarbons,
06:53but also in terms of construction, banking, mining, insurance, manufacturing,
06:58all the aspects of Venezuelan economic life,
07:01and that that economic life in Venezuela has an impact in the regional economy,
07:09that has a positive impact.
07:11Venezuela has impacted in the past through different mechanisms,
07:17for example, as Petrocaribe,
07:18mechanisms that were directed towards countries of our Caribbean,
07:23neighbors of our country,
07:25with countries of South America,
07:27well, Venezuela plays an important role in the regional economy
07:31and in Latin America and the Caribbean.
07:33We see Latin America and the Caribbean.
07:36And I call for Latin American Union.
07:40I know the proposal that President Trump has.
07:45We know that we come from a moment of a lot of turbulence in bilateral relations
07:50and I welcome that in this moment we are both governments in this position
07:54to work on a constructive diplomatic agenda that benefits both countries.
08:01In this moment our diplomats are traveling,
08:05they are heading to Washington to officially establish the diplomatic-political-geopolitical dialogue
08:12that is necessary for the life of nations.
08:15But if we see Latin America,
08:17Latin America requires greater union,
08:21it requires greater integration in terms of economy,
08:24financing integration in infrastructure.
08:27The main product of export in the year 2024 was oil, the crude oil.
08:34But we also see that remittances from migrants
08:38overcame the direct foreign investment in the year 2024
08:44with numbers of billions in numbers.
08:54This vision towards a region towards Latin America and the Caribbean
08:59suppose the effort of all countries together that make up this hemisphere
09:07to add efforts, we are the region, the most disconnected region of the world.
09:13We have more connection with our continents, with Europe, with Asia,
09:17that among ourselves.
09:18I believe that it is a vision to look within in the aspect as well of respect for international law
09:28and respect for the principle for the UN Charter and without a doubt
09:33the respect for sovereignty and self-determination of the people.
09:36So in that context, Venezuela continues to move forward with reforms.
09:42Reforms that call on investors to participate in an economy that,
09:48as I said at the beginning,
09:50has been leading growth for five years in a row in the region.
09:55And it's an economy that we already see it, free of all kinds of sanctions.
10:04Well, the increase that our country will have will be immense.
10:08In this moment there, I mean, I'm acting president of the Bolivarian Republic of Venezuela.
10:12We have received more than 120 energy companies, mainly from the U.S.,
10:18but we have also received companies from the Middle East, from Asia, from Africa, from Europe,
10:23that have come here.
10:24If you ask artificial intelligence right now how many meetings has the acting president of Rodriguez held,
10:32it will say right now over 230 meetings.
10:35So I invite you all to join this and to come to Venezuela to see the reality of Venezuela
10:41and that we don't allow anymore that for the space of dialogue among our countries
10:46be taken over by transnationals of communications,
10:49that it is the direct dialogue face-to-face with governments, with investors, with businessmen
10:54that can come here to Venezuela and see our reality.
10:58So I know there's a limit of time.
11:02I'm at this position for any questions that may come.
11:13Thank you, Senor President, for being with us this morning.
11:18Since we are short on time, I would ask you two questions, please.
11:22Because I think it's important for the investment community and for business leaders
11:28to really understand what's going on.
11:35?
11:35..
11:36.
11:36.
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