Venezuela’s National Assembly gave initial approval this Tuesday to a reform proposal that opens the electricity sector to private investment, allowing the creation of joint ventures after almost two decades of state control.
The bill is the latest effort by interim President Delcy Rodríguez, who took power in January following the United States’ impeachment of her predecessor, to open the country’s economy to foreign and private capital following changes to hydrocarbons and mining laws.
The reforms have the support of the government of US President Donald Trump, who stated that they will help revitalize Venezuela’s economy to the benefit of both US companies and Venezuelans.
