Key facts
- Government has identified state assets to be offered to the private sector or returned to former owners.
- 44 energy contracts are being negotiated under the new oil law.
- Negotiations are underway in the mining sector for gold, aluminum, and iron.
- Government plans four quarterly increases in the national minimum wage in 2027.
Venezuela's interim President Delcy Rodriguez announced on Thursday that the government has made progress in identifying state assets to be offered to the private sector or returned to their former owners. This initiative could reverse the widespread nationalizations previously implemented under former President Hugo Chavez. Rodriguez stated that non-essential state assets are being assessed for this purpose. A government commission has been working on asset classification since April, focusing on key industries like energy, power, and mining. The president also noted that 44 energy contracts are currently under negotiation following the approval of a new oil law in January, and that significant negotiations are also occurring in the mining sector for gold, aluminum, and iron. Additionally, Rodriguez instructed law enforcement to refrain from arrests without warrants and pledged to defend the right to peaceful protest. The government also plans four quarterly increases to the national minimum wage in 2027.