The last quinquennium has been one of the most critical for Latin America in terms of external displacement. More than 5.6 million people have left Venezuela for different reasons, mainly driven by insecurity, the need to find better opportunities and the socio-political situation the country is going through, according to figures from the Interagency Coordination Platform for Refugees and Migrants of Venezuela. This scenario has become the largest displacement of this type in the history of the region and the second largest worldwide.

Currently, more than 4.6 million migrants from Venezuela reside in 17 countries in the region, which has tested the response capacity of border countries and at times overflowed it. Since 2018, the response of governments in the region has been accompanied and supported by initiatives such as the Interagency Coordination Platform for Refugees and Migrants from Venezuela (R4V), made up of nearly 200 partner organizations and co-led by the International Organization for Migration (IOM) and the Office of the United Nations High Commissioner for Refugees (UNHCR), at the request of the UN Secretary General. However, it is clear that effective integration depends to a large extent on the support of various key actors in host communities, and the role played by the private sector in the management of the situation.

The 2030 Agenda for Sustainable Development shows that migration management is an integral part of global efforts to reduce inequalities and eradicate poverty; it also highlights the need to create partnerships to meet all the Sustainable Development Goals, including support from the productive sector for the implementation of activities focused on humanitarian assistance, socioeconomic integration, health, labor migration and the fight against human trafficking, among others.

The private sector plays a decisive role in socioeconomic integration, since companies do not only play a crucial role in the training and employability of refugees and migrants, but also because they can be an essential part of the development projects of the receiving communities that require opportunities that benefit them. On this last point, valuable progress has been made. Through USA for IOM, coordinated by the IOM Office in the United States, we have been able to promote action and investment in migration initiatives, fostering partnerships with the private sector, philanthropy and academia to deploy a wide range of programs in the region aimed at the effective integration of migrants.

"Businesses can be an essential part of host communities' development projects that require opportunities that benefit them."
Diego Beltran, Special Envoy.

An example of this is the multi-country initiative Support for the Productive Integration of Venezuelan Migrants, developed in Peru and Colombia with the help of the Citi Foundation, which had an investment of US$1 million to support the ventures of Venezuelan migrants, Colombian returnees and host communities, through capital injection for financing and boosting their businesses, training for the development of business skills and financial education.

The creation of value from the strengthening of human capital and the generation of job opportunities for the migrant population is a key aspect in which the private sector plays a major role. Its unique position allows it to contribute not only with the mobilization of resources, but also with the generation of creative solutions based on its innovative and entrepreneurial spirit, and to be a key player in strengthening the humanitarian link.

Migration generates a positive impact and a formidable contribution to the development of host communities, and is an opportunity that allows recipients to be true agents of social, economic and productive development. To this end, it is clear that inclusion efforts must continue to be added, and these must be multisectoral and comprehensive.

DIEGO BELTRAND
Special Envoy of the IOM Director General for the Regional Response to the Venezuela Situation.