Venezuela Seeks Foreign Capital to Diversify Economy, Vice President Says
The vice president of Venezuela has said the country is ready for investment as it works to improve its macroeconomic indicators and diversify its economy, according to a report by the Emirates News Agency published on Feb. 4, 2026. The statement comes amid efforts to attract international partners to the oil-rich nation following political and economic changes. Officials have pointed to recent legislative reforms that open key sectors to private and foreign participation.
The report from WAM detailed the vice president’s emphasis on Venezuela’s improving economic outlook and its commitment to building a stable investment climate. The vice president outlined how recent measures have led to better indicators in inflation control and currency stability. These developments form the basis for the country’s renewed appeal to investors from around the world particularly in the Gulf region.
OPEC statistics show that Venezuela holds the largest proven crude oil reserves exceeding 300 billion barrels. This resource base offers substantial opportunities for energy companies seeking long-term projects the vice president noted in related statements carried by other media. Investment in joint oil ventures reached nearly $900 million in the previous year according to Venezuelan government data.
Delcy Rodriguez serving as vice president has been at the forefront of these outreach efforts according to reports from Reuters and AP. In addresses to international forums she has called for approval of further oil sector reforms to secure foreign firms’ access to reserves. The moves follow the easing of some U.S. sanctions on the Venezuelan energy sector earlier this year a U.S. Treasury announcement confirmed.
A World Bank assessment of the Latin American economy has highlighted the potential for recovery in Venezuela if investment inflows increase. The country has also sought partnerships in non-oil sectors such as gold mining and agriculture to broaden its economic base. Such diversification is seen as essential for sustainable growth according to regional economic analyses from the IMF.
The vice president’s comments align with a series of diplomatic engagements aimed at strengthening ties with countries like the UAE which has expressed interest in Latin American markets. WAM reported that the discussion included Venezuela’s vision for a modernized economy that balances resource extraction with new industries. Several agreements are expected to materialize from these talks in the coming months according to the agency.
