Maduro: US investors are welcome in Venezuela
US investors are invited to put their capital in the Venezuelan economy, president Nicolas Maduro said in an interview broadcast June 18 by the Bloomberg news agency.
The oil-rich economy that relies heavily on hydroelectric power has struggled under mounting US pressure, isolation and crumbling infrastructure. Elliott Abrams, former US president Donald Trump’s special envoy for Venezuela, mulled military action to oust Maduro from power. President Joe Biden, whose years in the Senate affords him significantly more diplomatic experience than his predecessor, may offer a chance at détente.
Speaking from his presidential palace in Caracas, Maduro told Bloomberg he was ready to open his country up to more investments.
“Venezuela is going to become the land of opportunities,” he said. “I’m inviting US investors so they don’t get left behind.”
US energy company Chevron is active in the country, though sanctions pressure continues to be problematic.
“If Venezuela can’t produce oil and sell it, can’t produce and sell its gold, can’t produce and sell its bauxite, can’t produce iron, etcetera, and can’t earn revenue in the international market, how is it supposed to pay the holders of Venezuelan bonds?” Maduro said. “This world has to change. This situation has to change.”
Opposition leader Juan Guaido has been recognised by the international community as the legitimate president following contentious elections in 2018, but his influence has since waned.
“I’m here in this presidential palace!” Maduro said.