Bolivia - Country Commercial Guide
Market Challenges
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Although the Bolivian economy has shown signs of recovery in 2021, Bolivia remains a challenging place to conduct business. The government, controlled by the Movement Towards Socialism party (MAS), continues to advance a state-centered economic policy. In 2009, Bolivians approved a new constitution that gave the state complete management of the country’s natural resources.  During his tenure, former President Evo Morales (2006-2019) nationalized companies in the hydrocarbons, telecommunications, electricity, and mining sectors, in addition to a cement plant, an airport management company, and the pension administration system. After a year out of power, the election of Luis Arce as president in October 2020 brought the MAS back to power with some political stability. Bolivia’s weak judicial security, complicated regulatory systems, cumbersome bureaucratic procedures, and political pressures adversely affect the private sector in Bolivia. Bolivian commercial law does not have any significant technical barriers to trade or tariffs that substantially affect commerce with other countries.  The export of certain edible products requires licenses, and in some instances, the government may prohibit exports to prioritize supplying the domestic market.