In spite of the historic election results in Venezuela in which a coalition of more conservative
parties won a veto-proof majority in the country’s Parliament, the December 11 Time Magazine article identifies several other problems within the country that will continue.
We believe that despite these problems—and even partially because of these problems—Venezuela will soon become a target for Western investment and a potential destination for Western expatriates. Of course, the country does own the largest proven oil reserves and coincidentally, US refineries are among the few in the world that can refine Venezuelan crude. In addition, it’s also hard to imagine that the new government will not improve the security, safety and living standards in the country, and in so doing will call upon partners in other countries to accomplish that. Furthermore, there still is a significant amount of Western investment in Venezuela, which
means that there are obvious vested interests to helping the country recover.
It would be a good idea to learn as much as you can on Venezuela and keep an eye on this
hopefully recovering economy.
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