Vice President Rodríguez: We are working to ensure that Venezuela has a robust stock market

Published at: 29/08/2024 07:02 PM

Delcy Rodríguez, Executive Vice President of the Bolivarian Republic of Venezuela, reported that an agreement was signed this Thursday with representatives of banking, insurance and the stock market through which joint work actions are consolidated for the country's economic recovery.

“In the stock market, much remains to be done for Venezuela to have a strengthened and robust stock market,” he said.

The official assured that a permanent dialogue is being maintained through the National Economic Council and detailed some measures approved for this economic sector.

“Next week, the Ministry of Economy and Finance will offer investment instruments such as the Central Bank of Venezuela (BCV), in addition, the banknotes from the previous cone will be withdrawn and digital means of payment for taxes will be implemented,” he said.

He reported that after the reform of the Insurance Law, this Thursday the Ministry of Economy and Finance and Foreign Trade signed the regulation that will make it possible to vitalize the content of the law. He explained that one of the aspects, which had been requested by the Banking Association, is the commercialization of low-cost insurance through banking channels.

Other aspects relate to the incentive to national insurance over international insurance to allow the expansion of this sector internally; as well as the approval of the use of insurance reserves in the stock market.

Digital media will also be implemented to receive internal and similar taxes, allowing banks greater connectivity and the implementation of an interbank foreign exchange market, in addition to updating bank fees and commissions to facilitate the use of the bolivar in this multi-currency mechanism.

Mazo News Team