Natural resources should be nationalised
President Evo Morales has told a social summit being held in Bolivia that all ‘natural resources’ should be nationalised. He also commented that energy, water, electricity and telecommunications companies should not be in private hands, according to La Razón newspaper.
The president cited the nationalisation of the telecommunications industry as an example of where putting the industry into the hands of the people has seen mobile phone coverage extended in rural areas.
The move is unlikely to encourage foreign investment in the country. In early May the president announced that the Bolivian subsidiary of Spanish company Red Electrica Corporacion S.A. was being nationalised.