Foreign Investment in Bolivia Down by $148 Million

El Diario, La Paz, 23 Aug, 2010: Foreign investment in Bolivia fell by $148 million dollars during the first quarter of this year, according to data from the Bolivian Central Bank (BCB) and the National Statistics Institute (INE).

During the first three months of 2010 only $45 million in foreign investment were recorded, in comparison to $193 million in foreign investment during the same period last year.

This situation worried businesspeople and economic analysts who state that the nationalization of companies and avasallamientos have caused uncertainty, and they calculate investments will drop by 12% by the end of the year.

According to economist Waldo López: "the Government has a foreign investment phobia and its nationalization processes and the lack of clear rules are creating lack of confidence."

Meanwhile, the president of the National Chamber of Industries (CNI), Armando Gumucio, affirmed that "the Government must guarantee an adequate climate in which to generate greater investment, which would ensure more jobs are generated."

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Source: El Diario
Date: 23-Aug-2010