CARACAS, VENEZUELA (By Luis Vicente León, 12.Mar.2026, Words: 375) — Venezuela’s exchange rate gap remains the country’s main macroeconomic distortion, but its origin is not singular. It is a multifaceted problem.
The process of economic opening in Venezuela, now materialized in the new architecture of oil licenses, reform of the hydrocarbons law and incentives for private investment in strategic sectors such as minerals, electricity and infrastructure, is generating positive expectations and attracting numerous investors who are now exploring opportunities in the country.
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Many are discovering something important: opportunities aren’t just in oil. They’re also in all the sectors that need to be rebuilt to sustain the country’s recovery: infrastructure, the financial system, services, commerce, agribusiness, technology, and above all, human talent.
The challenge is enormous.
Venezuela has experienced years in which many production chains were disrupted and a key generation emigrated. Rebuilding those capacities will take time.
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Meanwhile, something interesting is happening: the improvement is occurring first in people’s minds and then in their wallets. Today, more than 75% of Venezuelans believe their economic situation will improve soon. But that expectation is not yet fully reflected in income or economic activity, which continues to be marked by inflation, devaluation, and the exchange rate gap.
Closing that gap is the central challenge. And to do so, concrete decisions are required:
— ensure oil resources already being generated flow into the economic system in a more predictable, rapid, and planned manner;
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— open access to multilateral financing, including organizations such as the IMF, to support monetary stabilization and finance critical infrastructure;
— facilitate the productive use of Venezuelan resources frozen abroad to boost investment and recovery; and
— modernize labor law to allow for significant increases in real income without compromising the sustainability of businesses and the state.
Economic recovery is not just a matter of expectations. It’s a matter of implementation, and we need to start as soon as possible.
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First published on social media by Datanalisis president Luis Vicente León. Translations by Energy Analytics Institute. Energy Analytics Institute (EAI) does not necessarily agree or disagree with the author, but is publishing the opinion owing to the author’s insight into the Venezuelan economy. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
