recovery
Businessman Richard Branson expressed clear optimism about the potential of local entrepreneurship and warned that conditions must be created for Venezuela to once again become a leading country in South America.
British businessman and Virgin Group co-founder Richard Branson said the entrepreneurial sector will be key to Venezuela’s recovery and warned that he is evaluating investments in the country, provided changes are made that give foreign capital greater confidence.
“Venezuela represents an extraordinary opportunity. That is a concrete fact, but the recovery process will depend greatly on what happens over the next 18 months, because an election process needs to be carried out and, with that step, the rule of law needs to be established to create more investment opportunities,” noted entrepreneur and business promoter Richard Branson.
Asked which sectors could offer the best opportunities for international capital, Branson said many could be considered, but highlighted the potential in air transport and tourism, fields in which he has extensive experience.
He said that, during a meeting with Foreign Minister Félix Plasencia, they discussed the possibility of establishing a route for Virgin Atlantic and bringing a cruise ship directly to La Guaira. He visited the area to assess its situation following the earthquakes on June 24.
He obviously considered addressing the humanitarian situation on the central coast a priority, but was surprised to meet people eager to start businesses in an area that could once again become attractive, since it is home to the country’s main port and airport, giving it a competitive advantage.
“It is a very interesting location for the aviation business, and one we can assess from a medium-term perspective, depending on how circumstances evolve. It could also be a significant cruise destination, as it is the gateway to a very beautiful country like Venezuela,” Branson said.
Leadership in South America
Branson expressed clear optimism about the potential of Venezuelan entrepreneurship and said conditions must be created for Venezuela to once again become a leading country in South America, “not just economically, but in other very important areas as well.”
He said he was not surprised by the quality of the entrepreneurial ecosystem he found in Venezuela, “because I know the quality of the people who live in Venezuela, who are very warm and open to entrepreneurship,” he noted.
A win-win process, with plenty of forgiveness
Asked about the changes that need to be made from the State’s perspective to achieve a successful process of consolidating economic growth, Richard Branson recalled his experience in South Africa, when, under Nelson Mandela’s leadership, society sought reconciliation to overcome apartheid.
In this regard, he said the parties should negotiate with the common good as their foundation and encourage a “win-win” process, with a strong willingness to forgive.
“The transition will never be easy, because many things can go wrong. I am sure people want to see a transition, both Venezuelans who are here and Venezuelans who are part of the international diaspora.”
— That desire is encouraging, and the goal is to achieve a positive process for the country. But it is important for the negotiations to be win-win, with both sides willing to make concessions.
Venezuelans “must learn” from South Africa’s experience, because a great deal of forgiveness is needed for mutual recognition. “That won’t be easy, because a lot has happened. What matters is that the country moves forward,” he stressed.
As part of his visit to Venezuela, Branson met with President Delcy Rodríguez. In that context, he said he had raised the need to go beyond offering financing and to train entrepreneurs through mentoring and advisory programs, so that startups have a better chance of becoming established.
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