This Saturday, the Bolivarian Republic of Venezuela and the People's Republic of China signed a Memorandum of Understanding between the National Superintendency of the Special Economic Zones of Venezuela and the Research Center for the Special Economic Zones of Shenzhen University.

This document has to do with the field of cooperation, development and modernization of special economic zones.

On the Venezuelan side, Johann Álvarez, National Superintendent of the Special Economic Zones, signed; and by the Asian giant, Tao Yitao, director of the Special Economic Zones Research Center of the Shenzhen University of the People's Republic of China.

The rubric was developed in the context of the Venezuelan president's visit to the Shenzhen Museum of Contemporary Art and Urban Planning, in which he appreciated the Exhibition of the 40th Anniversary of the Reform and Opening of Guangdong.

Venezuela and China signed a Memorandum of Understanding between the National Superintendency of the Special Economic Zones of Venezuela and the Research Center for the Special Economic Zones of Shenzhen University#Venezuela #China pic.twitter.com/eIjgySHirH

— teleSUR English (@telesurenglish) September 9, 2023

In the case of Venezuela, with the Special Economic Zones a model of sovereign economic development and national production is strengthened that guarantees the productive chain, legal security, social justice and environmentally sustainable means.

In this sense, the South American nation has taken fundamental steps to strengthen these zones, with the promulgation of the Organic Law of Special Economic Zones (LOZEE, acronym in Spanish), to regulate the creation, organization, operation, administration and development of Special Economic Zones.

Precisely, Shenzhen stands as China's first Special Economic Zone. It was built 43 years ago, August 26, 1980.

The President of the People's Republic of China, Xi Jinping, has said that Shenzhen “is a new city forged by the party and the people.”