The public and private sector will invest $US950 million to develop Puerto Busch, in Santa Cruz, which will improve Bolivian exports towards the Atlantic Ocean through the Paraguay-Parana Waterway, said the Minister of Government, Carlos Romero. The investment split is expected to be US$ 500 million public sector and US$ 450 million private sector.
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Presidents Sebastián Piñera and Jair Bolsonaro agreed to start the construction of the railway, which will pass through Paraguayan territory and northern Argentina.
According to minister Luis Alberto Sánchez, new investments, industrialisation, legal certainty and market opportunities, will generate more income and Bolivia will enter into a “Platinum age” in the hydrocarbons sector. He also affirmed that by 2025 it is expected investments of more than $US9.5 billion in this sector.
Production of oilseeds and other crops has increased by 4% but producers need more support from the government to have better access to biotechnology to improve profitability and ensure food safety in the country, said the president of the National Association of Oilseed and Wheat Producers (Anapo), Richard Paz.
Bolivia is among the ten countries with the highest minimum wage in Latin America. The country is in 8th place with a minimum wage of $US 300 according to a report from technology and social media expert Fernando Bruccolery published in the portal medium.com. Uruguay is in the first place of the list with a minimum wage of $US463 followed by Chile with a minimum salary of $US434.
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Bolivia expects to sign new gas contracts with Brazilian firms, announced the Hydrocarbons Minister, Luis Alberto Sanchez. According to Sanchez, the new contracts will generate more profits than the current one with the state-owned Petrobras. He added that Bolivia will continue to export gas to Brazil and Argentina even at better prices. However, both Brazil and Argentina states have announced that they need fewer volumes of gas.
With 20 projects, Bolivia continues to occupy the second place in financial education in Latin America, according to the Latin American Bank Federation (Felaban). Argentina ranks first while Colombia and Paraguay are in third place. Chile, El Salvador, Guatemala and the Dominican Republic are the countries that show the lowest numbers of financial education initiatives.
Bolivia proposed to strengthen Mercosur to confront the global economic crisis and minimise the impact of trade wars. Within this context, the country seeks the creation of a regional commision to project futures scenarios and to combat problems such as extreme poverty. President Evo Morales arrived this Tuesday in Montevideo, where a summit of the regional integration group is taking place, to raise the proposal. He stated that “n these times where economic problems arise, Mercosur must be more united.”
The mining sector will grow 26% this year and the royalties will reach $US182 million, which will have a positive impact on future investments, stated the Mining Minister, Cesar Navarro.