Weeks after opposition leader wins 2025 Nobel Peace Prize for decades of fighting to restore democracy to Venezuela Maria Corina Machado She called for what she called the most ambitious economic transformation in the country’s history — sweeping privatization aimed at reversing the policies of President Nicolás Maduro and what she called “the catastrophe caused by the socialist system.”
almost appeared in of wealth At the “Venezuela for Freedom” event, Machado, who is currently hiding from Maduro’s regime, unveiled a bold vision for rebuilding Venezuela’s shattered economy through massive private investment. “Venezuela will be the region’s greatest economic opportunity in the coming decades,” she told us wealthDiane Brady in the 2025 edition global forum. “We’re talking about an opportunity, a business opportunity, worth over $1.7 trillion. It’s unique.” Machado has previously raised the $1.7 trillion figure Estimates from her team of economic advisers.
From ruins to revival
Machado painted a stark picture of a country that has plummeted from prosperity: “This country, once the richest in our region and the freest in our region, has now become one of the poorest.” Decades of socialist rule have crippled industry, destroyed infrastructure and triggered an exodus of nearly a third of Venezuela’s population, she said. “Our economy has collapsed. It’s down more than 80% in the last (several years),” she said. “Our people are forced to flee in order to survive.”
this International Monetary Fund estimates By the end of 2022, Venezuela’s economy had dropped by about 75%, and a migration crisis has followed. left wing think tank Center for Economic and Policy ResearchSoon after argued that while that figure was accurate, it underestimated the harsh economic sanctions the U.S. had imposed on Venezuela for years.
The opposition leader described to Brady what she called a “narco-terror state” built on repression and corruption, saying “Venezuela has undoubtedly become a haven for criminal activity around the world.” She accuses Maduro and his allies of financing their grip on power through gold smuggling, arms and drug trafficking and human exploitation.
Privatization Blueprint
Central to Machado’s plan is a rapid and transparent privatization process. She estimated that more than 500 businesses had been “seized, confiscated, destroyed by the regime, but the infrastructure is still there.” She pledged strict oversight and the rule of law from day one, aiming to lure investors back through stability and fiscal incentives. She pledged to open markets and take an “absolutely rigorous” approach to the rule of law and transparency, reminding Brady that Venezuela currently ranks at the bottom of the global economy in terms of rule of law. To give one example, world justice project Venezuela was recently ranked 142nd out of 142 countries.
She also noted that Venezuela has the world’s largest oil reserves and the world’s eighth-largest natural gas reserves, “but right now our people don’t even have gas for cooking. That’s a disaster.” Bloomberg reports After a propane plant explosion in December 2024 destroyed most of the country’s channels of communication, Venezuelans began cooking with firewood and even their own furniture. “The socialist system is rotten,” she said.
Reviving the oil and gas industry will require the return of foreign capital and the Venezuelan diaspora, she added. “As long as Venezuela works hard, our talent, our people, our diaspora…are willing to come back.”
Calling on investors and allies
Machado said she welcomed responsible private investment from “all over the world” – including the United States, Europe, China and the Middle East – as long as all projects adhered to transparency and fair competition. Speaking in Riyadh, she expressed strong interest in building partnerships with Gulf states.
She also called on the International Front to expose and freeze assets linked to Maduro’s circle. “We demand that all democracies around the world … fully disclose all information they have about all crimes committed by Nicolás Maduro and his cronies,” she said.
Despite being in hiding, Machado remains steadfast about Venezuela’s future. “If the regime finds me, I will probably disappear,” she said matter-of-factly, showing a hint of emotion, but quickly adding that her own dangers and struggles are no different than any Venezuelan coming forward at this moment. “I want you to know that I am absolutely convinced that we are entering an orderly transition, that Venezuela is a cohesive society, that we have no tensions, ethnic, religious, social, political, and that 90 percent of our country wants the same life, with dignity, justice and of course freedom, and we want to bring our children home.”