Venezuela: National Executive decrees the creation and amendment of Special Economic Zones

In brief

Pursuant to the Organic Law of Special Economic Zones1, the National Executive issued on 10 August 2023 Decree Nos. 4,838; 4,839; 4,840; and 4,841 ("Decrees")2. The Decrees create the Special Economic Zone (SEZ) of the Federal Dependency La Tortuga Island, adapt the Special Military Economic Zone No. 1 of the State of Aragua3 and SEZ of Peninsula Paraguaná of the state of Falcón, and create the SEZ of the State of La Guaira, respectively.

The Decrees became effective on 10 August 2023.


Click here to read the full article.

Click here to read the Spanish version.


1 Organic Law of Special Economic Zones, published in the Official Gazette No. 6,710 on 20 July 2022. For more information click here:

2 Published in the Official Gazette No. 6,756 on 10 August 2023.

3 The Special Military Economic Zone No. 1 of the State of Aragua differs from the Special Military Economic Zone for Forestry Development "ZEEMDEF" created by the Decree No. 4,392 published in Official Gazette No. 42,034 on 22 December 2020, mainly in the productive sectors of development as ZEEMDEF is limited to forestry activities without a defined incentive system, while the Military SEZ No. 1 focuses on several sectors with a structured incentive system. In addition, both have different governing bodies, competent authorities and organizational structures.

Copyright © 2023 Baker & McKenzie. All rights reserved. Ownership: This documentation and content (Content) is a proprietary resource owned exclusively by Baker McKenzie (meaning Baker & McKenzie International and its member firms). The Content is protected under international copyright conventions. Use of this Content does not of itself create a contractual relationship, nor any attorney/client relationship, between Baker McKenzie and any person. Non-reliance and exclusion: All Content is for informational purposes only and may not reflect the most current legal and regulatory developments. All summaries of the laws, regulations and practice are subject to change. The Content is not offered as legal or professional advice for any specific matter. It is not intended to be a substitute for reference to (and compliance with) the detailed provisions of applicable laws, rules, regulations or forms. Legal advice should always be sought before taking any action or refraining from taking any action based on any Content. Baker McKenzie and the editors and the contributing authors do not guarantee the accuracy of the Content and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the Content. The Content may contain links to external websites and external websites may link to the Content. Baker McKenzie is not responsible for the content or operation of any such external sites and disclaims all liability, howsoever occurring, in respect of the content or operation of any such external websites. Attorney Advertising: This Content may qualify as “Attorney Advertising” requiring notice in some jurisdictions. To the extent that this Content may qualify as Attorney Advertising, PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME. Reproduction: Reproduction of reasonable portions of the Content is permitted provided that (i) such reproductions are made available free of charge and for non-commercial purposes, (ii) such reproductions are properly attributed to Baker McKenzie, (iii) the portion of the Content being reproduced is not altered or made available in a manner that modifies the Content or presents the Content being reproduced in a false light and (iv) notice is made to the disclaimers included on the Content. The permission to re-copy does not allow for incorporation of any substantial portion of the Content in any work or publication, whether in hard copy, electronic or any other form or for commercial purposes.