“This will come from new ventures or the application of technology that ramps up productivity in soybean production, as well as plants such as cusi (…), among others,” Arce asserted on his message for the 199th anniversary of Bolivia’s independence.
Arce assured that this is a tax incentive program based on a zero tariff levy, which in conjunction with the current zero Value Added Tax (VAT) for imports of machinery and equipment for biodiesel plants, will surge private investment.
As part of the national Government’s policy of industrialization with import substitution, Bolivia faces the production of this hydrocarbon with projects for the construction of modern industrial plants in the departments of La Paz and Santa Cruz, with millionaire investments.
In March, 2024, Arce opened the first Biodiesel Production Plant in Santa Cruz, and by the end of 2024 the second one is expected to be delivered in the city of El Alto.
A third Hydrotreated Vegetable Oil (HVO) plant is planned to be built in Santa Cruz.
Likewise, in view of the fuel shortage problem, the national Government decided to bolster the consumption of gasoline called premium plus and to introduce a new variant, Ultra Premium 100, to the market, Arce informed.
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