Doing Business in Venezuela

Subject (Course): International Trade and Business in Venezuela. Caracas. Syllabus:

1. Introduction to the Bolivarian Republic of Venezuela.
2. Venezuelan Economy.
3. Venezuelan Oil
4. Economic Profile of the States of Venezuela.
5. Venezuelan international trade: Imports and exports.
6. Accession of Venezuela to the MERCOSUR
7. Foreign Direct Investment (FDI) in Venezuela.
8. Doing Business in Caracas.
9. Case Study - Venezuelan Companies:
     - Petroleum of Venezuela (PDVSA).
     - National Telephone Company of Venezuela
10. Introduction to Spanish
11. Access to the Venezuelan Market
12. Business Plan for Venezuela

Objectives of the subject "Doing Business in the Bolivarian Republic of Venezuela":

1. To analyze the Venezuelan economy and foreign trade
2. To evaluate business opportunities in the Bolivarian Republic of Venezuela
3. To explore Venezuela's trade relations with the student's country
4. To know the Venezuela's Free Trade Agreements (FTA)
5. To examine the profile of Venezuelan Companies
6. To develop a business plan for the Venezuelan Market

Sample of the subject - Doing Business in Venezuela:

Subject Description: Foreign Trade and Business in Venezuela:

The Bolivarian Republic of Venezuela (America):

1. Venezuela is composed of twenty-three federal states and a capital district (Caracas).
2. Frontiers of Venezuela: Brazil, Guyana, and the Republic of Colombia.
3. Religion in Venezuela: Christianity (Catholicism: 27 million).
4. Venezuelan official language: Spanish
5. Venezuelan Population: 27.3 millions of people
6. Area: 16,445 km²
7. Independence from Spain: 1810
8. Venezuelan Currency: Bolivar (VEF)
9. Venezuela belongs to the Latin American Economic Area of the Western Christian Civilization
10. Abolition of slavery in Venezuela: 1854
11. African Diaspora in Venezuela: 0,8 millions of people (2,8% of the Venezuelan population)

Venezuelan Economy.

1. The Bolivarian Republic of Venezuela is rich in mineral resources, whereas Venezuela is more known for its hydrocarbons: ranks fifth in the World in oil reserves and seventh in natural gas.
2. The main Venezuelan economic activity is the exploitation of petroleum refining for export.
3. Oil is processed by the State Oil Company: Petroleum of Venezuela (PDVSA).
4. The Bolivarian Republic of Venezuela is rich in agricultural, animal husbandry, fishing, and forestry resources
5. Top trade partners of the Bolivarian Republic of Venezuela are United States, Colombia, Mexico, and Brazil.

Caracas.

1. With a population of two millions of people, Caracas is the political and economic capital of the Bolivarian Republic of Venezuela
2. In Caracas are concentrated the core functions of the Executive, legislative and judicial branches of Venezuela.
3. In Caracas, all kinds of activities are located (educational, financial, commercial, industrial and services).
4. A large majority of the workforce is employed in the public sector related activities.
5. The industrial activity is also crucial in Caracas.
6. Caracas is the seventh largest financial center of Latin America (behind cities like Sao Paulo, Bogota, Santiago de Chile, Buenos Aires, Mexico City, and Rio de Janeiro).
7. Caracas generates 19% of the gross domestic product in the Bolivarian Republic of Venezuela.
8. Important Venezuelan companies like "Petroleum Venezuela" or CANTV, has its headquarters in Caracas.

Economic profile of the States of Venezuela.

1. Maracaibo (Zulia state capital) has a population of three millions of people (second biggest city in the Bolivarian Republic of Venezuela). Maracaibo is one of the largest cities in Venezuela. It is the home to major companies, such as Banco Occidental de Descuento. One of the main economic activities of Maracaibo is the oil exploitation (sites in the Basin of Lake Maracaibo).
2. Carabobo State is one of the most vibrant of the Bolivarian Republic of Venezuela. The industry and agricultural production of Carabobo are among the biggest in Venezuela. The main economic activity of Carabobo State is industrial manufacturing (automotive, metalworking, chemicals, agribusiness, food, and consumer products).
3. La Guaira (Vargas State) is the largest gateway to the Bolivarian Republic of Venezuela; the Port of La Guaira is one of the biggest Venezuelan ports.
4. Barcelona is the capital of Anzoategui state, has a population of 620,000 inhabitants and with Puerto La Cruz, Lecheria, and Guanta forms one of the largest metropolitan areas of Venezuela (1 Million people). There are several industries: oil complexes and automotive factories
5. Barquisimeto (Lara State) is a major city strategically located, being a significant area in public service, trade, banking, and logistics. There are major industrial companies (metallurgy, agribusiness, textiles, cement, etc.). MERCABAR, the largest wholesale market in Venezuela is in Barquisimeto.
6. Valencia (1.5 millions inhabitants) is regarded as the industrial city of the Bolivarian Republic of Venezuela.

Venezuelan Companies.

1. "Petroleum Venezuela," the state-owned corporation of the Bolivarian Republic of Venezuela, is responsible for the efficient, profitable, and dependable exploration, production, refining, transport and distribution of hydrocarbons. The company keeps a strong presence abroad through five offices situated in Argentina, Brazil, Cuba, the United Kingdom, and Holland.
2. Telephones of Venezuela is the leading provider of integrated telecommunications services in Venezuela. Telephones of Venezuela had 3.6 million lines in service, 8.2 million mobile subscribers, and 528,000 broadband subscribers.

Venezuela's Free Trade Agreements (FTA).

1. Venezuela is a member of the MERCOSUR since 2012
2. Association of Caribbean States (ACS)
3. Union of South American Nations (UNASUR)
4. Latin American Integration Association (ALADI)
5. Latin American and Caribbean Economic System (SELA)
6. Bolivarian Alternative (ALBA)