The change opens Venezuela to more imports from its neighbor as domestic manufacturers are still struggling, though some got a boost from a de facto dollarization.
Tini's company Full Time, one of Venezuela's largest shoe manufacturers, is set to increase production to 20,000 pairs this year from 12,000 in 2021, but imports worry him.
Local industries "cannot compete on equal terms with Colombian products," said Luigi Pisella, president of Conindustria, one of the top business associations representing Venezuela's manufacturers.
Between January and August this year, the Colombian government's DANE statistics agency valued the country's exports to Venezuela at some $400 million while Venezuelan imports to Colombia were just $56 million.
Business people said there are few incentives for manufacturers, high taxes and not enough efforts to combat inflation.