Bolivia’s new president is planning major reforms to unleash a mining and oil exploration boom, burying nearly 20 years of socialism in the Andean nation with a new policy — “capitalism for all”.
Rodrigo Paz, a pragmatic centrist former senator, said his team was working on a package of laws to boost foreign investment in natural resources which would be presented to congress for approval “in the coming days or months”.
“We need a new oil and gas law,” Paz told the Financial Times in an interview while attending an economic forum in Panama. “Bolivia should go for 50-50 [risk-sharing with foreign investors]. I give you the space. You come in with technology and investment . . . I think it’s the basis for business in future.”
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