IT Financing
Bolivia does not yet have venture capital firms or incubators that specialize in Internet commerce firms. However, Bolivia welcomes foreign direct investment with very few restrictions. Bolivia has an Investment Law passed in 1990, that guarantees national treatment, the free convertibility of currency, unrestricted remittances and the right to international arbitration in most industries.
Bolivia's banking system is strong with over US $3.5 billion in total deposits as of 1999. Almost 95% of Bolivia's banking assets are denominated in US dollars or held in dollar-pegged accounts.
Bolivia welcomes direct investment, but expects the participating company to make a tremendous commitment to developing and upgrading the Bolivia infrastructure. For example between 1996-1997 several strategic partners pledged almost US$1.7 billion in new investment in Bolivia's transportation, energy and telecommunications infrastructure. In return the government the companies received 50% of the each company's assets from the government.
