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Santa Cruz boosts PPP law
By PPO Abogados
Santa Cruz, one of the nine constituent departments of Bolivia, will soon have a Public-Private Partnerships (PPP) law in order to promote national and foreign investment and reactivate its post COVID-19 economy.Santa Cruz is the largest and wealthiest department of the country, with huge reserves of natural gas and the highest increase of economic growth during the last 50 years in Bolivia.
The law was presented by governor Luis Fernando Camacho with the support of the local politic and business ecosystem. According to Camacho, PPP projects will mobilize over USD 1 billion until 2025, thus transforming Santa Cruz economy through modern and productive projects that will generate thousands of jobs in the department.
In a public-private partnership, companies and government bodies work together in areas such as infrastructure and housing. It serves the public interest from the integration of efforts, fund, expertise and technologies of both the government entities and the private partners. In addition, it is an ideal option to render efficient commodities and services at a lower cost and to make use of the private sector’s capabilities and efficiency.
In the case of Santa Cruz, the proposed law sates that public resources may not exceed 20% of the estimated total investment budget of a project.
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