“HUGO CHAVEZ” ORINOCO OIL BELT SPECIAL ECONOMIC ZONE
Advantages for investment
- Economic, fiscal and custom incentives to bost the productive sector.
- Special mechanisms for the simplification of administrative procedures, for a simple and expedite issue of permits and other procedures.
- Companies established in the National Strategic Development Zonewill benefit from international trade agreements signed by the Republic.
- Necessary imports of goods, services and raw materials for the construction of infrastructure and facilities of NATIONAL STRATEGIC DEVELOPMENT ZONE: “HUGO CHÁVEZ” ORINOCO OIL BELT will be realesedfrom tariff restrictions.
- Goods and services produced in the NATIONAL STRATEGIC DEVELOPMENT: “HUGO CHÁVEZ” ORINOCO OIL BELT shall enjoy tax protection, and will be distributed with preferential treatment through state-owned networks.
- Oil-related services and associated industrial processes for oil production will have preferential advantages.
- It will provide preferential treatment to the production, installation of petroindustrial bases, infrastructures and supporting services.
Benefits to the sub-region
- It facilitates and promotes productive chains linked to strategic resources of the NATIONAL STRATEGIC DEVELOPMENT ZONE: “HUGO CHÁVEZ” ORINOCO OIL BELT, optimizing resources for productive boost, levering the comprehensive development of the territory and the inherent economic activities.
- It articulates public actions in the linking NATIONAL STRATEGIC DEVELOPMENT ZONE: “HUGO CHÁVEZ” ORINOCO OIL BELT with other drivers, Special Economic Zones and local planes, creating synergy with public policies of states and municipalities.
- It promotes the generation of diversified products units, endogenously and with local raw materials.
- It favors the generation of stable sources of formal employment, and of downstream multiplier agents.
The NATIONAL STRATEGIC DEVELOPMENT ZONE: “HUGO CHÁVEZ” ORINOCO OIL BELT” is located entirely on the Orinoco River basin, and it covers portions of 6 states: Apure, Guárico, Anzoátegui, Monagas, north of Bolívar and Delta Amacuro, and 26 municipalities. It has a surface area of 76,560 km2, accounting for 8.4 percent of the national territory. It is composed of four (4) operational divisions, from West to East: Boyacá, Junín, Ayacucho and Carabobo.
It is an oil-producing province characterized by a succession of rocks underground, formed by sedimentary accumulations, from Oligocene, to more recent finer sediments from the Quaternary. There are 4 landscape units: hills and foothills, plateaus, alluvial plains and valleys.
The altitudes do not exceed 300 m above sea level, with variations of less than 100 meters, a mostly flat topography, characteristics of the Mesa formation. Overall, the average rainfall is about 1,100 mm per year, with average temperatures ranging between 26°C and 28°C and average anual evaporation over 2,000 mm, characterized by a well-defined rainy and dry seasons, and an average temperature variation of under 5°C.
- The area of the “Hugo Chávez” National Strategic Development Zone covers a large land area, with an abundant supply of resources, landscapes dominated by table-top mountains, morichales, and riverside forests with moderate occupancy restrictions. It is an area of strategic importance, where the largest oil reserves in the world are located. The territorial development of this vast region involves challenges that imply considering the environmental, social, cultural, economic and political dimensions, in order to ensure that it is carried out under the principles of sustainable and eco-socialist development.
- It is conceived as the recipient area of population and investmentsin many different sectors and economic activities, with projects involving complex processes for oil development with significant multiplier effectsand wich will produce synergies and connectivities that will generate new patterns of occupancy of space with geostrategic impacts at the national level, reversing traditional settlement trends.
- It possesses substantial wealth for forestry, thanks to the large forest areas in Uverito, for the production of wood pulp for paper, wood for construction and other products, which will drive a powerful sub-regional industry.
The NATIONAL STRATEGIC DEVELOPMENT ZONE “HUGO CHÁVEZ” ORINOCO OIL BELT contains oil reserves that position the Bolivarian Republic of Venezuela as the country with the largest oil reserves in the world, accounting for 297 billion barrels, of which 258 billion are located in the Orinoco Oil Belt. Oil development will be the cornerstone of the comprehensive development of the National Strategic Development Zone, creating synergy with the Northern Plains Axis and the Orinoco Mining Arc, favoring a more balanced distribution of the population, the integration of various endogenous potentials and capabilities, linking economic activities in the mining, agricultural and industrial sector, based on social, productive natural, physical features, while articulating the North- South and East-West relations.
According to preliminary figures, and based on the calculation by the National Institute of Statistics, all municipalities in the Orinoco Oil Belt have a combined population of 799,096 inhabitants, with an indigenous population of 9,540 people. The population density stands at 10.5 inhabitants/km2. The population growth in this area is projected at two million people.
It offers a significant potential to build se system ofpopulatopmcenters and design of equipment and infrastructure, as well as broad education support in the Venezuelan State.