Several months prior to the arrest of Venezuela’s Nicolás Maduro by the U.S. military, an opposition leader called for what she characterized as the most ambitious economic transformation in the nation’s history – a comprehensive privatization effort intended to reverse his policies and what she terms “the disaster brought about by this socialist system.”
Appearing virtually on the Global Forum stage in Riyadh, Machado, while in hiding from the Maduro regime, presented a bold vision to rebuild Venezuela’s shattered economy through large – scale private investment.
“Venezuela will be the single greatest economic opportunity in this region for decades to come,” she told ‘s Diane Brady at the event, weeks after winning the 2025 Nobel Peace Prize for her decades – long struggle to restore democracy to Venezuela. “We’re talking about a business opportunity worth more than $1.7 trillion. This is unique.” Machado has mentioned the $1.7 trillion figure before, an…
From ruin to renewal
Machado depicted a grim picture of a nation that has fallen from prosperity to poverty: “a country that used to be the richest and the freest in our region, and has now become one of the poorest.” She said that being under socialist rule for decades has crippled the industry, devastated the infrastructure, and led to an exodus of nearly a third of Venezuela’s population. “Our economy has collapsed. It has declined by over 80% in the last [several] years,” she said. “Our people have been forced to flee just to survive.”
[Some source] reported that Venezuela’s economy had declined by roughly 75% as of late 2022, also covering its migrant crisis. A left – wing think tank argued shortly afterward that, while this figure was accurate, it did not account for the severe economic sanctions imposed by the U.S. on Venezuela for many years.
The opposition leader described to Brady what she called a “narco – terrorist state” built on repression and corruption, stating that “certainly Venezuela has become a safe haven for criminal activities from all over the world.” She accused Maduro and his allies of financing their hold on power through gold smuggling, arms and drug trafficking, and human exploitation.
The privatization blueprint
The core of Machado’s plan is a rapid and transparent privatization process. She estimates that more than 500 enterprises were “seized by the regime, confiscated, and destroyed, but the infrastructure remains.” She promised strict oversight and the rule of law from “day one,” aiming to attract investors back with stability and fiscal incentives. She committed to open markets and an approach that would be “absolutely strict” in terms of the rule of law and transparency, reminding Brady that Venezuela currently ranks last in terms of the rule of law. For instance, [some organization] recently ranked Venezuela No. 142 out of 142 countries.
She also pointed out that Venezuela has the largest oil reserves in the world and the eighth – largest natural gas reserves globally, “but currently, our people don’t even have gas for cooking. That’s a disaster.” [Some source] reported in December 2024 that Venezuelans were turning to firewood and even their own furniture for cooking after an explosion at a propane plant destroyed most of the country’s transmission. “The socialist system has decayed,” she said.
Restoring the oil and gas sectors, she added, will require both foreign capital and the return of Venezuela’s diaspora. “Our human talent, our people, our diaspora… is willing to return as soon as Venezuela starts to work hard.”
Call to investors and allies
Machado said she would welcome responsible private investment from “all over the world” – including the United States, Europe, China, and the Middle East – provided that all projects adhere to transparency and fair competition. Speaking at the forum in Riyadh, she also showed strong interest in partnerships with Gulf nations.
She called for an international front to expose and freeze assets linked to Maduro’s circle. “We are asking all democratic countries around the world… to fully disclose all the information they have regarding all the crimes committed by Nicolás Maduro and his cronies,” she said.
Despite living in hiding, Machado was determined about Venezuela’s future. “If the regime finds me, I’ll likely disappear,” she said matter – of – factly, showing a hint of emotion but quickly adding that her own dangers and struggles are no different from those of any Venezuelan who speaks out at this moment. “I want you to know that I am absolutely convinced that we are moving towards an orderly transition. Venezuela is a cohesive society; we have no racial, religious, social, or political tensions, and 90% of our country wants the same thing: to live with dignity, with justice, and certainly with freedom, and we want to bring our kids back home.”
This story was originally published on Oct. 27, 2025.