Four hundred private and public companies have set up kiosks at the 2017 Power Expo 2017, in Caracas, Venezuela. The exhibit features the potential of the South American nation in the agri-food, pharmaceutical, industrial, export, social and communal economy industries, as well as hydrocarbons, petrochemicals, tourism, mining, construction, forestry, telecommunications, banking and finance.
During his address to inaugurate the expo, President Nicolas Maduro announced a "credit" to selected, privately-owned companies Grupo Inquipor; Empresa; Gavenplas; Grupo Santa Teresa; Nestle of Venezuela; Camaronera El Catabre and Colisur. He said the credits are meant to break the "myth" that his administration is not interested in working alongside the private sector to solve the country's economic dilemma.
Many small, state-based producers presented substitutes to foods, like flour and rice, with the hope that local consumption would increase, enough to initiate profitable alternative markets.
The expo also features the work of several of Venezuela's social programs, which have benefited greatly in the areas of housing, transport, utilities and food. Maduro said that 30 percent of Venezuelan families receive CLAPs — subsidized food bags — every 15 days. He added that the government is working to increase that figure.
This month, Venezuela opened 100 centers for the sale of bread in Caracas. This comes after the expropriation of privately-owned bakeries, which the president said were creating bread shortages in what he called a "bread war."
Minister of the Economy and Finance Ramon Lobo, said the four-day event will "visualize the productive vocation and the advances achieved, and it will be the meeting between different producing agents." He also indicated that the Bolivarian government has concentrated its work on two essential engines for economic dynamics: agro-food and industry. "The Expo will allow us to see that meeting between private and public companies, that confluence of the Venezuelan productive force."
Lobo also mentioned the recent decline in oil prices. He said that they are "busy working to overcome these induced adversities, to overcome the rentier model and to turn Venezuela into a productive power."