WB EXPERT WARNS THAT AN ENTREPRENEUR IN BOLIVIA SPENDS 27% OF HIS TIME ON PROCEEDINGS
Quijandra said that according to various opinions of Bolivian entrepreneurs, bureaucratic procedures that they must comply, generate constraints to competitiveness.
La Paz, March 24 (ANF).- A manager of companies in Bolivia must allocate 27% of his time to meet the legal procedures required by the bureaucracy of national law, a percentage much higher than the average for Latin America and most countries in the region, said the expert economist of the World Bank Group in Latin America and the Caribbean, Alvaro Quijandra.
The economist who integrates Global Competitiveness and Trade Practice World Bank Group noted that Bolivia has a very low rate of private investment, despite the high rate of public investment.
During the international economic forum: What the country needs to improve the investment climate?, Quijandra said that according to various opinions of Bolivian entrepreneurs, bureaucratic procedures that they must comply generate constraints to competitiveness.
“The time that company managers have to devote to deal with loads of regulations is one of the highest in Latin America. About 27% of managers’ time is dedicated to meet legal requirements, a percentage much higher than the average for Latin America and most countries in the region,” he said.
The sorry excuse of a “socialist of the 21st century” has created excessive red tape to constrain private investment in Bolivia.
On the other hand, the ruling ochlocracy has created more state-owned enterprises that have naturally went bankrupt or generate heavy losses to our nation.