Bolivian Economist Urges Hydrocarbon Law Reform to Boost Investment

Santa Cruz, Bolivia – Jorge Akamine, President of the College of Economists, has called for an urgent reform of Bolivia's hydrocarbon law, warning that without changes, no one will be willing to invest in the country. Speaking on the program 'La Hora Pico' by eju.tv, Akamine emphasized that the current legal framework discourages both national and international investment. 'It is fundamental and necessary to reinvest, but how?' Akamine stated. 'No one will come to invest with the current rules of the game.' He highlighted that even the former minister Molina had previously advocated for changing the hydrocarbon law, noting that the existing conditions prevent investment. Akamine further elaborated that sectors such as lithium and other minerals also face significant cost barriers, making them less attractive for investment compared to the past. He underscored the importance of public policies that foster confidence to attract capital. 'The individual operates based on incentives,' he explained. 'Currently, the incentive is to take all products to the border because foreigners are not paying well here.' The economist concluded by stressing that the primary proposal that must be achieved is confidence. 'Without confidence, whatever you do will not work,' he asserted, pointing out that current solutions are often devised from a desk in La Paz without addressing the core issue of investor trust.