The Daily Journal — The Venezuelan business delegation attending the 114th Session of the International Labour Conference of the International Labour Organization (ILO) in Geneva, Switzerland, presented an optimistic assessment on Friday regarding the country’s economic outlook. Fedecámaras President Felipe Capozzolo stated that the political transition that began earlier this year has created an unprecedented environment of legal flexibility and institutional dialogue.
Capozzolo, who leads the Venezuelan employers’ delegation alongside business leaders Jorge Roig and Alejandro Disilvestro, highlighted the role of global business organizations in providing technical support to Venezuela’s private sector during this new phase.
Approaching Labor Law Reform
During his remarks at the global summit organized by the International Labour Organization (ILO), Capozzolo emphasized the impact that political developments during the first quarter of the year have had on Venezuela’s legal framework.
“A new stage began in Venezuela in January of this year. Since then, we have witnessed what we consider an accelerated process of reviewing laws and reassessing the entire Venezuelan legal framework, which gives us a significant sense of optimism about the future,” Capozzolo said.
According to Fedecámaras, the ongoing restructuring of the state—which currently includes evaluating the divestment of unproductive assets and expanding opportunities for private investment—creates a path toward addressing long-standing demands from the productive sector.
“I believe that today we stand closer than ever to modifying everything related to the labor legal framework,” the business leader said.
Fluid Communication
Unlike the institutional tensions that characterized relations between the private sector and the government during the last two decades, Capozzolo spoke positively about the communication channels that the business community has established with the administration of acting President Delcy Rodríguez.
The business leader also underscored the private sector’s ability to contribute proposals and participate in the co-design of new public policies on employment and wages.
“Fedecámaras and the employer sector continue to work consistently in this area. We maintain fluid communication and have the ability to influence everything related to this new space and the new opportunities opening before us,” he concluded.In addition to plenary sessions with governments and labor unions from around the world, the Venezuelan delegation’s agenda in Geneva also includes specialized working meetings within the International Organisation of Employers (IOE).
