Investment Policy Monitor
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
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Note: the policy measures are identified through a systematic review of government and business intelligence sources. Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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- Venezuela, Bolivarian Republic of - Enacts new legal framework and new investment incentives for Special Economic Zones
Venezuela, Bolivarian Republic of
Enacts new legal framework and new investment incentives for Special Economic Zones
20 Jul 2022On 20 July 2022, the Government of Venezuela enacted the "Ley Orgánica de las Zonas Económicas Especiales", a new legal framework for Special Economic Zones (SEZ), with the objective of developing a new national productive model; promoting national and foreign investments in the country; fostering industrial development; contributing to export diversification and creating new sources of employment. The Act entered into force on the same date.
Under the Act, newly established SEZs can host investments in the following sectors: manufacturing, agro-industry, export and re-export, aeronautics and energy; R&D and production of systems, parts and components for telecommunications, information technology, waste management, and defense and military technology sectors; financial services; other service sectors such as tourism, hospitality and leisure;
Investment incentives include refund of import taxes and of other national taxes (conditions to be determined by Governmental decree).
Investment facilitation benefits include a single window mechanism to streamline, harmonize and automatize procedures, including a digital platform for investments in SEZs; the setting up of education and research centers to provide human capital training for investments in SEZs and a regime of free currency convertibility.
Finally, the new legislation imposes a viability review of SEZs established prior to the enactment of the law, in order to determine whether they should be discontinued, maintained or adjusted to the new regime within a period not to exceed 180 days.
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Type:
- Treatment and operation (Capital transfer and FOREX)
- Promotion and facilitation (Investment facilitation , Investment incentives, Special economic zones)
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Industry:
- Not industry specific
- Manufacturing (Manufacture of food products, beverages and tobacco products, Manufacture of rubber and plastics products, and other non-metallic mineral products, Manufacture of fabricated metal products, except machinery and equipment, Manufacture of computer, electronic and optical products, and electrical equipment, Manufacture of machinery and equipment n.e.c., Other manufacturing)
- Services (Water supply, sewerage, waste management and remediation activities, Accommodation and food service activities, Arts, entertainment and recreation)
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Sources:
- Asamblea Nacional, LEY ORGÁNICA DE LAS ZONAS ECONÓMICAS ESPECIALES - GACETA OFICIAL DE LA REPUBLICA BOLIVARIANA DE VENEZUELA, https://www.asambleanacional.gob.ve/storage/documentos/leyes/ley-organi-20220801161552.pdf
- Tele Sur, Special Economic Zones Law Enacted in Venezuela, https://www.telesurenglish.net/news/Special-Economic-Zones-Law-Enacted-in-Venezuela-20220721-0003.html, 21 Jul 2022
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
-
Note: the policy measures are identified through a systematic review of government and business intelligence sources. Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
Share





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