Bolivian positive news, at last! no stupid… is the private sector!

Pagina Siete reports that private investment in Bolivia surpasses the billion dollars per year. Between 2008 and 2010, local investment grew from 1,138 to 1,156 million dollars.

The National Chamber of Commerce (CNC) provided the information: private sector invested $1,138 in 2008; $1,057 in 2009 and 1,156 in 2010 (million of American dollars). Those figures surpass the ones reported directly by foreign private investment: 505, 426 and 651 million dollars for 2008, 2009 and 2010 respectively. CNC President, Oscar Calle, expects that for 2011, the figure will reach $1,200 million dollars, per the tendency of investment during the first semester, 2011.

Calle says “We believe that the financial crisis will nor affect those sectors who contribute to investment, therefore, we have hope that we will go beyond last year’s figure.”

Construction and mining are the two sectors that represent 40% of the total investment. In the case of the mining sector, investment was propelled by the high international prices for minerals. Regarding the construction sector, Calle believes that private investors are placing their monies in a safe and short-term market. He also said that the industry sector also invests but its return is always over the long run.

The first vice-president for the Confederation of Bolivian Private Entrepreneurs, Ronald Nostas, said that another important sector is the pharmaceutical. He also said that private investment, in general, could improve or increase if there would be more appropriate legal conditions.

These investment figures were released, after the government would say on many occasions, that the growth rate is not higher because the private sector is no investing.

This chart shows the public and private investment, I believe the figures provided above do not reflect the headings on the private sector (national, foreign), there is a mistake in those labels, however the figures match the wording and the chart.

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