Investors can regain confidence in Venezuela in one week

Distrust of an expropriating government and a legal framework that corners the private sector are among the hurdles in Venezuelan economy. Nevertheless, in a question of weeks, such a situation could change in the event of a brand-new government.

Economist Miguel Ángel Santos commented in a video-chat with El Universal on a number of steps that can be taken in one-week term to "send signals to the market" and inspire confidence. First thing would be a new board of directors at the Central Bank of Venezuela (BCV), as well as a statement of autonomy aimed at shielding the currency.

Another recommendation for a new government would be an expropriation team to make a review on a case-by-case basis and welcome back any businesses willing to get into a partnership with the State.

Santos stressed the importance of confidence to attract both domestic and foreign investment.

The economist did not rebuff the State involvement in strategic sectors, "but this is not the case of vegetable oil."

Translated by Conchita Delgado