To Import or Produce Vehicles in Venezuela?

It has not been a dilemma for the governments of the "beautiful" revolution that took office more than 16 years ago in Venezuela to decide whether they prefer domestic production over bulk imports of everything the country demands for its survival. Sustained oil prices above $100 per barrel for many years, together with a project for a country that goes against private sector activities, tipped the balance in favor of a cutthroat import policy in detriment of an entire national productive sector. The consequences are there for all to see: domestic production is a mess. It is already inexistent even in areas where Venezuela was self-sufficient before or was gaining strength as an exporter. More…