Caracas, 5 February 2025 – The Chargé d'Affaires (CDA) of the Embassy of Malaysia visited the Caracas Campus to explore Venezuela's evolving digital economy ecosystem and promote Malaysia’s role as a global technology and digital economy hub. The campus is home to major companies, including Ridery and the Wave Tech Hub, which houses over 40 digital enterprises.
The Wave Tech Hub, established in 2022, was developed by repurposing a former Procter & Gamble facility. Dedicated to fostering technology-based startups, the hub provides group memberships designed to enhance productivity and collaboration among teams. This initiative plays a crucial role in developing Venezuela’s startup ecosystem by creating an enabling environment for technological innovation and entrepreneurship.
During the visit, the CDA engaged with several digital companies and startups, discussing their projects and exploring potential areas of collaboration. The discussions revealed that Venezuelan companies are making significant strides in cutting-edge digital sectors such as virtual reality and artificial intelligence. Many of these companies have developed applications currently being utilised by large corporations in Venezuela to enhance operational efficiency and business management.
The Embassy’s engagement at the Caracas Campus underscores Malaysia’s interest in fostering collaboration with Venezuela’s digital sector. The visit served as an opportunity to exchange knowledge, explore potential partnerships, and highlight Malaysia’s role as a global technology hub that can facilitate Venezuelan companies’ access to the ASEAN and Asian markets.
By strengthening diplomatic and economic ties through digital economy initiatives, the Embassy continues to support Malaysia’s broader goal of enhancing international cooperation and fostering mutual economic growth between Malaysia and Venezuela.