reforms

Caracas, April 9, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez announced a series of upcoming reforms concerning Venezuela’s labor, tax, and pension frameworks during a press conference on Wednesday, April 8. 

Addressing her cabinet at Miraflores Presidential Palace, Rodríguez unveiled the creation of a commission made up of representatives from the state, business sector, active workers, and pensioners to “review labor conditions, address precariousness, and strengthen the social security system.”

Rodríguez acknowledged deficiencies in areas such as working hours, vacation benefits, and pensions, arguing that the present social security system is not sustainable due to insufficient contributions from active workers and the private sector.

The acting president disclosed an upcoming increase to workers’ incomes on May 1, but did not specify if it would come in the form of an adjusted minimum wage or non-wage bonuses. Rodríguez warned that salary adjustments must be “responsible” so that they do not trigger inflation.

Venezuelan authorities have discussed the prospect of reforming the 2012 Labor Law for several months, installing several dialogue commissions and public debates.

The existing labor law, approved by former President Hugo Chávez, prohibits unfair dismissal and outsourcing, enshrines the world’s third-longest maternity leave, guarantees the right to work for both women and people with disabilities, and extends retirement pensions to all workers, including full-time mothers and the self-employed. However, trade unions have pointed out that state institutions and the Labor Ministry have reduced their enforcement of the law in recent years.

Rodríguez’s public broadcast came hours before workers and unions staged a mobilization in Caracas demanding higher wages, improved working conditions, and the repeal of statutes that suspended several collective bargaining rights. In recent protests, workers have called for an end to the government’s bonus-based wage policy and the restoration of collective bargaining agreements.

Venezuela’s minimum wage has remained unchanged since March 2022 at 130 bolívares per month—equivalent at the time to around US $30 but presently worth approximately $0.27 at the official exchange rate.

With the economy heavily constrained by US sanctions, the Venezuelan government relied on non-wage bonuses—paid in bolívares but pegged at a fixed US dollar amount. A recent increase took the so-called Economic War Bonus, paid to public sector employees, to $150 a month. Coupled to a $40 food bonus, it brought the floor income to $190.

Public sector retirees and pensioners receive $130 and $60 Economic War bonuses, and do not access the food bonus.

For their part, business sector representatives have demanded changes to the labor law that reduce costs for employers before any adjustment to the minimum wage. Amid ongoing discussions with the International Labour Organization (ILO), private sector organizations proposed modifying Article 122 of the Labor Law, which establishes that severance payments are calculated based on the last salary earned by the worker.

Tax reform and state asset review

Rodríguez also announced the immediate convening of a National Economic Council tasked with designing a more “efficient” tax model aimed at making Venezuela “more competitive.”

“I hope that this council can produce a new tax model that can generate consensus among the different economic sectors in the country,” the Venezuelan leader stressed. 

She further enacted the Law on Streamlining and Optimization of Administrative Procedures, previously approved by the National Assembly, which seeks to modernize public administration by reducing bureaucracy and incorporating digital tools. According to Rodríguez, the law grants the executive authority to eliminate procedures, shorten timelines, and improve coordination between institutions.

In addition, she ordered the creation of a mixed commission to evaluate which state-owned assets have “strategic” importance, potentially opening some to private investment. However, she clarified that the hydrocarbons sector will remain under state control. The Cisneros group, one of Venezuela’s largest conglomerates, recently announced plans to raise funds ahead of an “expected wave of privatizations.”

The Venezuelan acting administration’s wholesale reform plans follow a recent pro-business overhaul of the Hydrocarbon Law in late January. The South American country’s National Assembly is likewise close to approving a new Mining Law with the goal of attracting foreign investment for extractive activities.

On Wednesday, Rodríguez additionally called for reforms to the country’s housing laws, claiming that there are half a million “frozen” properties presently that could be incorporated into the real estate market.

The acting president’s final announcement was a nationwide “pilgrimage” scheduled from April 19, Venezuela’s Independence Day, to May 1 to demand the lifting of US unilateral coercive measures against the Caribbean nation. While the Trump administration has issued selective and restrictive licenses to favor the participation of Western companies in the Venezuelan oil and mining sectors, wide-reaching sanctions remain in place.

Edited by Ricardo Vaz in Caracas.

Caracas, March 25, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez has reiterated calls for foreign investment in the Caribbean nation.

Addressing the FII PRIORITY Miami Summit, Rodríguez showcased Venezuela’s economic growth and lauded the investment opportunities in the country’s vast oil, natural gas, gold, and other mineral resources. The Venezuelan leader highlighted the recent pro-business overhaul of the country’s Hydrocarbon Law and other upcoming reforms as key in generating “flexibility,” “guarantees,” and “security” for investors.

“The new Hydrocarbon Law creates important mechanisms for private sector control over production and commercialization,” Rodríguez said in her video message from Caracas. “It also creates flexible fiscal arrangements and establishes alternative conflict-resolution processes such as international arbitration.”

The acting president added that 64 percent of the price of a barrel is up for “negotiations with investors” in terms of reduced royalties and taxes, as well as dividends. 

Approved in late January by the Venezuelan National Assembly, the new Hydrocarbon Law allows the executive to reduce taxes and royalties at its discretion. The reform also grants expanded control to private corporations, curtailing the state’s sovereignty over the industry established under Hugo Chávez under the 2001 Hydrocarbon Law and subsequent reforms.

In her remarks, Rodríguez urged “de-ideologization,” vowing, “regardless of different [political] views, a favorable climate can be created so that investors have the mechanisms so that their investments foster returns.” She added that she has met with representatives from 120 multinational corporations since January. 

“Our reforms are a call for investors to participate,” Rodríguez stated. She went on to press for greater Latin American economic integration and for an end to unilateral sanctions against Venezuela, though she refrained from mentioning the US by name.

The Future Investment Initiative (FII) Institute is a non-profit run by Saudi Arabia’s Public Investment Fund and holds regular conferences bringing together business executives, analysts, and political leaders.

Rodríguez’s participation in the Saudi initiative came amid unprecedented energy market volatility as a result of the US and Israeli war against Iran. In spite of strong Venezuelan ties with Iran over the past 25 years, the Rodríguez administration has not taken a firm stance on the conflict, having published and later withdrawn a controversial statement. Caracas expressed solidarity with Qatar and the UAE after Iran retaliated against US military assets in the region.

The Venezuelan leader’s Wednesday message to investors in Miami followed a meeting with business executives at Miraflores Presidential Palace on Tuesday. The companies represented were not disclosed, though Houston-based oil giant Exxon Mobil has confirmed it has a team in Caracas “looking to assess the state of the resource that’s there.”

Rodríguez delivered a similar pitch hailing Venezuela’s natural resource potential and the prospects for foreign conglomerates opened by ongoing reforms. She appealed for the full lifting of sanctions, arguing that US Treasury licenses hurt investor confidence.

Since January, the Trump administration has issued a number of sanctions waivers allowing Western entities to engage with the Venezuelan energy and mining sectors. The licenses block transactions with companies from China, Cuba, Iran, North Korea, and Russia.

Additionally, the Treasury exemptions mandate that all royalty, tax, and dividend payments destined for Venezuelan state entities be deposited in US-run accounts. Washington currently controls Venezuelan oil proceeds, having returned a reported US $500 million, out of an initial $2 billion agreement, to Caracas.

On Tuesday, Rodríguez likewise announced the imminent departure of a Venezuelan diplomatic mission to Washington. Félix Plasencia, slated to become the country’s ambassador to the US, will lead the delegation.

“Our delegation will manage this new stage of diplomatic relations and dialogue between our two countries,” she affirmed.

Caracas and Washington fast-tracked a diplomatic rapprochement in the wake of the January 3 US attacks against Venezuela and kidnapping of President Nicolás Maduro and First Lady Cilia Flores. The two governments reestablished diplomatic relations in early March after a seven-year hiatus. The Trump administration went on to recognize Rodríguez as Venezuela’s “sole leader” days later.

Rodríguez, who had served as vice president since 2018, assumed the presidency in an acting capacity on January 5 with the endorsement of the Venezuelan National Assembly and Supreme Court, which declared Maduro’s absence as temporary.

Maduro and Flores pleaded not guilty to charges including drug trafficking conspiracy and will have a court hearing on Thursday. US officials have not presented evidence to sustain reiterated “narcoterrorism” accusations against Venezuelan leaders, while data from specialized agencies has found Venezuela to play a marginal role in global narcotics trafficking.

Edited by Lucas Koerner in Fusagasugá, Colombia.