Jean Anglade (E77), ESSEC Alumni Chapter President of Venezuela, has been living in the country for 45 years. Here, he tells us how the situation in the country has steadily got worse, and why he still believes in the possibility of a brighter future. 

ESSEC Alumni: Why did you leave France for Venezuela? 

Jean Anglade: I left in June 1977, a few days after I graduated from ESSEC, to complete my national service with the economic and trade departments at the French embassy. At the time, it was not intended to be a permanent move. Then the embassy offered me a career as a trade attaché responsible for French exports to Venezuela. In parallel, I met Martha, a Venezuelan-French woman who would become my wife. These two factors proved decisive.

EA: How did your career go in Venezuela?

J. Anglade: My approach to Venezuela was not that of a traditional expat, but as a kind of adventurer let loose in the world of Franco-Venezuelan business. From the mid-1980s to the mid-2010s, I’ve been able to work in a variety of sectors (banking, urban planning, property development, energy, industry) and in a range of very different environments (local SMB, subsidiaries of multinational groups). I have also chaired the French Chamber of Commerce in Venezuela six times, and have been an active member of the Venezuelan Chamber of Petroleum.

EA: How did your perceptions of the country change over the years?

J. Anglade: I’ve always believed that the country has a future, that it has no lack of potential: raw materials, agriculture, tourism, human capital... However, I soon noticed the limitations of a single product economy where everything was focused on oil, and especially the limitations of the political class in the country, which was little prepared for decline and more interested in the immediate advantages of power rather than the long-term consolidation of the country’s wealth. For me, Venezuela proved to be a school in managing instability, in human relationships that were sometimes paternalistic and under constant tension, and in the passive-aggressive relationship with an invasive government.

EA: You worked in a number of diplomatic roles. How did the economic relationship between France and Venezuela change over the years?

J. Anglade: France maintained a presence based around major projects delivered by private companies (the Caracas metro, housing, electrical transmission, the oil industry) and in the trade of pharmaceuticals, equipment, and consumer goods (drinks, beauty products, etc.). We are currently involved in projects like the French Valley Caracas, which aims to bring the French and Venezuelan start-up ecosystems together; and Vision Venezuela, a project that sets out to actively monitor the situation with patrons and local economic players, to pave the way for a brighter future.

EA: And what do you do in Venezuela today?

J. Anglade: I’ve been self-employed since 2014. I manage Danexi, a representation and consulting firm for the energy and environmental sectors, and I’m involved in growing a start-up, Dinbog, which is a marketplace for talent in the creative industry.

EA: What is the local entrepreneurial ecosystem like in Venezuela?

J. Anglade: The Latin American start-up scene is exploding, despite – or thanks to – the crisis that is affecting most countries in the region. The younger generations’ capacity for initiative and innovation, as well as their outward-looking attitude, have no doubt been enhanced by the lack of opportunities in the existing entrepreneurial space as well as by being located next to geographical borders that are synonymous with migration, disputes, and poverty.

EA: Can you tell us about the crisis that has rocked Venezuela since 2015? 

J. Anglade: The crisis had been fomenting for a long time. We can say that it was brought about by the policies of the group that had been in power for 20 years – knowing that some see it not as mere incompetence, but part of a deliberate strategy to destroy the existing order to bring about a new society... Whether it was deliberate or not, the result is the same: GDP down 80% over 7 years, oil production plummeting from 3m barrels a day to fewer than 500,000, hyperinflation... The sanctions imposed by the USA have only served to accelerate the disaster.

EA: How does this situation affect people living in the country?

J. Anglade: Living conditions took a considerable hit for everyone living here around 2015, with shortages of food and medication, in particular. For the vast majority of people, the situation has not really improved, insofar as income is not in line with inflation nor devaluation. The clearest proof is that more than 5m Venezuelans have emigrated over the past few years, often in precarious circumstances.

EA: Is the situation today the same as at the peak of the crisis? 

J. Anglade: Some issues are being resolved, thanks not to astute economic measures, but rather the survival strategies adopted by private enterprise and the local population. The resulting status quo (use of the US Dollar, entrepreneurship, remittances from emigrated family members, etc.) is nevertheless a partial and often highly unstable solution.

EA: Has the crisis affected your own work?

J. Anglade: Danexi has turned to private clients outside of Venezuela, and in Colombia and Panama in particular. Dinbog has always been oriented towards the global market; Venezuela primarily plays the role of a test market, while simultaneously offering a workforce with programming and marketing skills at a competitive cost.

EA: How do things look for Venezuela over the next few years? 

J. Anglade: In my view, the defence of the free-market economy and private property are not old-fashioned concepts. The direction that Venezuela took some 20 years ago seems to show how much private companies form an irreplaceable foundation in how a nation is structured and how it grows. It’s very difficult to see the situation changing, as the regime in power is so strong. But for me, the country and its people remain a source of hope.

Interview by Louis Armengaud Wurmser (E10), Content Manager at ESSEC Alumni 

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