BBVA and Halliburton executives highlighted in Davos the country's potential if uncertainty decreases
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The possibility of political and economic normalization in Venezuela is beginning to generate concrete expectations among major international players, especially in the banking sector and the energy industry. Within the framework of the World Economic Forum in Davos, executives from global companies made it clear that, if a scenario of greater predictability is consolidated, the Caribbean country could once again attract significant investments.
The president of BBVA, Carlos Torres, stated that a possible normalization of Venezuela would open "good opportunities for everyone," although he emphasized the need to act with caution due to the uncertainty that still persists. The statements were made in an interview with CNBC from Davos, after he was asked about the new political context following the capture of the former dictator Nicolás Maduro.
Edificio de BBVA en Argentina.
BBVA is the only foreign financial institution that remains operating in Venezuela, with almost three decades of uninterrupted presence. According to Torres, the bank is going through a stage of normal operations, which makes it possible to look to the future with expectation. Nevertheless, he insisted that a large-scale investment reactivation will depend on sustained improvements in institutional conditions and on a clear reduction of uncertainty.
In line with this view, the energy sector has also begun to send positive signals. The U.S. company Halliburton, one of the largest oilfield services providers in the world, stressed that it sees "opportunities" in the country and that it could move forward quickly if the pending commercial and legal aspects are solved.
The company's chief executive officer, Jeffrey Miller, explained that Halliburton has a historic footprint in Venezuela, where it has operated since 1938, and that it keeps infrastructure and knowledge of the local market. The firm withdrew in 2019 as a result of U.S. sanctions, but it retains the logistical capacity to restart operations within relatively short time frames.
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Miller underlined that the key to a full return lies in certainty regarding payments and a stable legal framework. Even so, he maintained that the company is already managing licenses and logistical aspects, and that interest in its return is high. As he detailed, the Venezuelan market has shrunk compared with a decade ago, but it remains strategic for a possible economic recovery based on oil and gas.
The statements by both executives reflect a common pattern: the companies that already know the country are better positioned to react quickly if the normalization process moves forward. However, the message is clear and cautious: without clear rules, legal security, and political stability, the opportunities will remain only expectations.
