Venezuelan automotive sector agrees to reduce imports of mechanical parts

Published at: 24/01/2025 05:32 PM

Authorities from the Ministry of People's Power for Industries held a meeting with representatives of the automotive sector to agree on joint strategies to consolidate an import substitution process.

This objective would be met by incorporating the minimum original material, such as spare parts, and domestic components, in the motorcycle assembly process.

The initiative also responds to the industrial impulse promoted by the president of the Bolivarian Republic of Venezuela, Nicolás Maduro.

The meeting held this week was chaired by the Deputy Minister of National Productive Development, Laila Tajeldine, and was attended by representatives of the Venezuelan Chamber of Manufacturers of Automotive Products (Favenpa), and the Association of the Small and Medium Automotive Industry (Asopymi Automotive).

One of the proposed measures was compliance with the agreements signed with the automotive sector, which assigns them the responsibility of using nationally produced mechanical parts and parts. In this way, the Ministry of Industries is advancing new alliances for the development of the industry and the strengthening of the productive chain in key sectors of the country.

The import substitution process also provides for the reinforcement of the national currency and the exchange system, combined with the dynamization of the national economic-productive system. Previously, President Maduro instructed the execution of new actions to advance a plan for radical substitution of imports and production in Venezuela.

Mazo News Team