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Bolivia one of Latin America's best destinations for foreign direct investment: official

Xinhua, August 15, 2016 Adjust font size:

Bolivia is an "attractive" country for foreign direct investment (FDI), thanks to its judicial security and economic, political and social stability, according to its government and leading economists.

America Economia, a regional economic news outlet, on Sunday quoted Mario Guillen Suarez, deputy minister of pensions and financial services, as saying that "the government has made development and growth plans with the objective, by 2020, to top 50 billion U.S. dollars of GDP (33.2 billion U.S. dollars in 2015). To do so, we will need foreign investments...in our country's strategic services."

In 2006, Bolivia abandoned "the old, neo-liberal market model" to implement the New Economic, Social, Community and Productive Model.

"Thanks to its economic strength, political and social stability, Bolivia is attractive today for foreign capital, capital which is also important to drive and accelerate Bolivian economic growth," said Guillen Suarez, at a recent press conference in La Paz.

At the press conference, Luis Ballivian, a leading economist and former executive at the Bolivian Central Bank (BCB), highlighted the importance of a series of events being carried out by Bolivia in the U.S., Europe and Asia to draw the right kind of attention.

"These actions are important at a time when a number of countries in Latin America and the world, who usually attract much FDI, are having problems with recession, inflation, and political and social instability," He added.

While Latin America has seen FDI drop in 2015, Ballivian maintains that Bolivia continues to offer the best return on investment in the region.

"Above all, Bolivia's investment climate is far more ready than its neighbors, as they have been affected by the international crisis while our country shows considerable stability," he outlined.

For the economist, Bolivia must now seize the moment, offer even better conditions to foreign investor and make the rules of the market very clear, through moves such the country's new Investment Law.

Guillen said that France, Russia, the UK, Argentina, Brazil, China and Switzerland, among others, have announced future investments in Bolivia, in sectors such as mining, hydrocarbons and telecommunications.

The deputy minister concluded that this level of faith placed in Bolivia so far is a major calling card for investors to see the country's attractive offerings. Enditem