Venezuela to offer state assets to private sector, Rodriguez says

Venezuela's ​interim President Delcy Rodriguez said on Thursday ​the government has made progress identifying state ‌assets ​to offer to the private sector and former owners, a move that could reverse nationalizations ordered by former President Hugo Chavez.

"I have instructed that ‌non-essential assets held by the state be assessed to determine which can be offered to the private sector or returned to their former owners. This process is already well advanced," Rodriguez said in a televised address. In April, ‌Rodriguez appointed a government commission to audit and evaluate state-owned assets, including infrastructure in industries such as ‌energy, power and mining. They have been working on asset classification since, according to people familiar with the matter.

She did not provide further details on the process. Under Chavez, the nationalization of key projects and industries left over a dozen international arbitration ⁠claims, ​which mostly remain unsettled by ⁠the government. In her speech, Rodriguez said 44 energy contracts are being negotiated under the state's oil law approved in January. ⁠The government has stated that 61 oil agreements have been signed, without providing details.

"Similarly, important negotiations are under way in ​the mining sector, specifically regarding gold, aluminum, and iron," she added. The president also said she has ⁠instructed law enforcement agencies not to arrest people without a warrant, and vowed to defend the right to "peaceful protest" in the country, ⁠which ​has a history of political repression and last week experienced its first nationwide opposition protest in nearly two years.

"The responsible exercise of political rights is guaranteed for everyone. Our doors are open," Rodriguez ⁠said. In her address, Rodriguez said the government has planned four quarterly increases in the national minimum wage ⁠in 2027.

During a ⁠separate afternoon appearance on state television, Rodriguez said diplomat Oliver Blanco, previously the vice foreign minister, will take over as the country's top diplomat. His predecessor, Felix ‌Plasencia, will become ‌presidential adviser for international affairs, Rodriguez said.