Success made in Bolivia.Meanwhile, business goes on, and so Franklin Mining, a US mining group, signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with YPBF, Bolivia's oil & gas state company, just weeks after the nationalisation n. 1. same as nationalization. Noun 1. nationalisation - the action of forming or becoming a nation nationalization group action - action taken by a group of people 2. . It plans to set up a joint venture to construct and operate a 10,000-barrels per day gas-to-liquids processing plant that should help Bolivia industrialise Verb 1. industrialise - organize (the production of something) into an industry; "The Chinese industrialized textile production" industrialize alter, change, modify - cause to change; make different; cause a transformation; "The advent of the automobile may its gas and reduce the need for imported diesel fuels. The plant capacity might be expanded later. Every government official will tell you that they want to be friends with all countries of the world and maintain good relations with the USA. This government will want to progress on the free trade treaty with America and in general Bolivia still wants investment and there is a favourable climate for it. The USA is Bolivia's largest financial aid partner, and this makes Bolivia want to diversity its trade and investment (commercial) dependence away from the USA. But is it possible to have a profit and change society in this new climate in Bolivia today? Yes and that's exactly what BancoSol, Bolivia's leading bank in microfinance business, has managed to do. The bank started in 1986 as an NGO NGO abbr. nongovernmental organization Noun 1. NGO - an organization that is not part of the local or state or federal government nongovernmental organization , and in 1992 it became a commercial bank. It was the first commercial bank in the world to become a regulated institution dedicated exclusively to micro-finance. BancoSol CEO's Kurt Koenigsfest explained that the bank today offers working capital loans as well as housing loans for micro-entrepreneurs. "Since 1992, we have given loans to more than 1.5 million entrepreneurs in Bolivia. Our portfolio today is at $140 million, which is not much if you consider the volume itself, but if you take the average of $800 per loan, then it is a lot", he adds. Koenigsfest has recently been elected as a global leader to represent Bolivia for the next five years at the Davos World Economic Forum. In his opinion, Bolivia is an attractive investment destination full of opportunities: "we have industries, and natural resources, but we don't have the ways, both human and financial, to make those industries grow. We need money from outside, we need partners, and we also need clear rules and understand that any association will be in the form of a partnership". BancoSol's chief believes that Bolivia lost in the last capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. process, when "we were taking 20-30% and the investors took the biggest chunk of 70-80%". Another success story is that of Soboce (Sociedad Boliviana de Cemento SA), the largest cement cement, binding material used in construction and engineering, often called hydraulic cement, typically made by heating a mixture of limestone and clay until it almost fuses and then grinding it to a fine powder. producer in the country, ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. certified See certification. and joint venture partner with companies from Chile and Mexico. Its new president, Juan Carlos Juan Car·los Born 1938. King of Spain (since 1975) who acceded to the throne on the death of Francisco Franco and helped restore parliamentary democracy. Noun 1. Requena, is a strong advocate of better relations between his country and the US; just as importantly, he is committed enhancing the corporate social responsibility of his business. Soboce has more than 80 years of history behind it, but it was only recently that the company board agreed to direct ten percent of their profits to economically depressed areas within the reach of the company's activities. As most of his business colleagues, Requena is concerned about the lack of clear rules for businesses to operate within the country, and expects the current government to solve this long-term problem. For many years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Bolivian economy did not have clear rules set out for the long term, he says, and now that the country is enjoying a good economic momentum because of the high prices of natural resources and commodities, it is a good time to set the rule of the games clearly for the long term. |
|
||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion