Bolivia: New Hydrocarbon, Mining Laws Will Fund Infrastructure, President Says

Bolivian President Rodrigo Paz has asserted that the approval of new hydrocarbon and mining laws is crucial for generating the funds needed to execute infrastructure projects and stimulate the national economy. Speaking at an event in El Alto, Paz highlighted that his administration aims to foster a new regulatory framework to attract both public and private investment.

"Approving the hydrocarbon law and the mining law will mean there is money, and with that, works will be done," the president stated, emphasizing that the development of the hydrocarbon and mining sectors will boost production, create jobs, and increase revenues for roads, hospitals, schools, and other public works.

Paz stressed the importance of a joint approach involving the state and private enterprise, advocating for policies that facilitate investment without excluding any actors. He specifically pointed to the need for developing exploration projects in the northern part of La Paz department, noting that producing departments currently receive royalties equivalent to 11% of production, which could be redirected to investment and public works.

The president also connected the influx of investment with social stability, criticizing blockades for negatively impacting economic activity and creating uncertainty for potential investors. He argued that the country needs gas, mining, and financial resources, all of which depend on the passage of new laws and securing credit lines.