Charles Myers, Chairman of Signum Global Advisors, has identified foreign investment in Venezuela's oil, tourism, and construction sectors as central to the nation's economic recovery over the next two years. This assessment was shared with Business Insider.
Investor Interest and Context
Following news on Saturday that President Nicolás Maduro had reportedly been taken into US custody, a group of approximately 20 US investors is planning a visit to Venezuela in March. Myers, who also previously served as vice-chairman of Evercore, noted that investors he had engaged with expressed "cautious optimism" subsequent to the reported developments.
Investment Opportunities
Myers emphasized the substantial opportunities for foreign investment, particularly in the oil and gas sector. He also pointed to considerable prospects within the construction and tourism industries.
Signum Global Advisors' Approach
Signum Global Advisors focuses on assisting clients in identifying investment opportunities and managing risks stemming from geopolitical events. The firm's mandate does not involve taking a moral position on the involvement of the United States in Venezuela's governmental affairs. Myers indicated that his firm had anticipated the unfolding of the situation and had prepared investor groups for engagement, citing similar prior trips to Syria and Ukraine.
Market Response and US Role
According to Myers, investors had acquired bonds in anticipation of these events. He characterized the market reaction as demonstrating a "very strong degree of cautious optimism," exceeding that observed in comparable situations such as Syria, which he attributed to the perception of the events as a "United States-directed action." Myers concluded that the United States is expected to assume a pivotal role in the Venezuelan economy.