Maduro plans to deliver a million financing to entrepreneurs

The President of the Republic, Nicolás Maduro, indicated this Thursday that the public bank set the goal of delivering one million financing to new entrepreneurs over the course of a year.

This was announced in the Ríos Reyna Room of the Teresa Carreño Theater, during the meeting with entrepreneurs “Venezuela undertakes with Nicolás”, which he arrived in a Ridery taxi.

The Head of State urged the private banks to join the entrepreneur program, with the delivery of 500 thousand credits, through a special portfolio.

In this regard, the vice president, present at the activity, pointed out that the representatives of the private banks were already urged to join the program and “they have the will, the decision, and we are resolving the bureaucratic obstacles to join the program.”

Nationwide credits

Maduro specified that since 2021, 726 loans have been granted to enterprises nationwide. “We have entered an accelerated stage of a new era of transition, to a new society, towards modern, advanced, entrepreneurial socialism,” he emphasized.

He indicated that there is no default rate, since 99% have paid the loans, which are subsequently delivered to another entrepreneur.

“It is a virtuous circle of economic activity, where you (entrepreneurs) became the engine. Every money that is taken to the streets, to entrepreneurs, becomes a productive investment, not a bureaucratic expense,” he stressed.

“The amount in dollars, despite the criminal sanctions and the blockade – he noted – has been 338 million dollars, through the Bank of Venezuela, Banco del Tesoro and Fonaem.”

Certified Entrepreneurs

Likewise, he indicated that “to date, one million 387 thousand 261 entrepreneurs are certified throughout the country, of which 64% are women,” the president detailed, “all Venezuelan states have a good number of registered entrepreneurs, namely: Miranda, Zulia, Carabobo, Aragua, Lara, Anzoátegui, Portuguesa, Guárico, Bolívar, Monagas, Falcón, Barinas, Yaracuy, Mérida, Sucre, Trujillo, Apure, Táchira, Nueva Esparta, Cojedes, La Guaira, Delta Amacuro, Amazonas and the capital, Caracas.”

The president, who toured the different entrepreneurship stands and exchanged words and ideas with the entrepreneurs, proposed installing an entrepreneurship expo in each city in the country. “It would be a great idea,” he said, commenting that the new Plaza de la Juventud in Bellas Artes might have a space for an entrepreneurship fair.

Textiles, ice cream, processed foods, bakeries, technological applications, among other areas, he was able to observe on his tour of the spaces where entrepreneurs exhibited their products.

“Venezuela has a reputation for making good quality bread,” emphasized Maduro, who tasted a coffee produced in Charallave.

Entrepreneurship Law Reform

The vice president and the president addressed matters concerning the Entrepreneurship Law.

In this sense, the vice president, who recalled that it was approved in October 2021, highlighted the growth that has been observed in the sector.

In this regard, Maduro said that he will request the National Assembly to reform the aforementioned law, in order to extend the registration of entrepreneurs to more than two years.

Ten thousand new financing

The president announced the delivery of 10 financing for 10 new entrepreneurs, through the Bank of Venezuela, immediately.

“Entrepreneurs have the support of the national industry that is recovering. The entire economy is recovering, I have the reins of the economy,” said the Head of State.

“Venezuela managed to produce and achieve full supply,” stressed the first national leader, who stated “this is what the economy has to be like with a social character.”

He indicated that “patience, intelligence, work, innovation and creativity made Venezuela move forward, and went from 85% shortage to 100% supply with national products.”

Finally, the president of the Republic signed the promulgation of the Non-Petroleum Export Promotion Law, approved by the National Assembly in second discussion.