April 17 (UPI) -- The government of Rodrigo Paz has finalized the draft of a new hydrocarbons law, marking a key reform aimed at reviving energy investment and steering Bolivia's energy sector toward bolstering natural gas and oil production.
Hydrocarbons Minister Mauricio Medinaceli told local media the main goal of the legislation is to attract foreign investment. The proposal outlines five core pillars to reposition Bolivia as an energy-producing nation rather than a net importer.
The draft seeks to introduce more competitive conditions to draw capital, strengthen legal certainty and ease some contractual terms while maintaining state control over natural resources, according to the Bolivian newspaper El Deber.
"Bolivia is undergoing a structural shift because there will be a new hydrocarbons law, and we will present it as a national agreement among Bolivians," Paz said earlier this week during a visit to Brazil.
Related
