With few dollars and rising prices of the family basket, Bolivia’s private sector invests in local development

With an investment of 15 million dollars, the pharmaceutical industry INTI inaugurated the largest logistics distribution center in Bolivia in the middle of last week, which was developed with European technology and the ability to preserve the quality of more than 1,300 products.

The opening of this center, which is good news for Bolivians, comes in the midst of a context of instability due to the economic situation due to the shortage of dollars that has been recorded for more than a year and the rise in basket prices. familiar.

A team of the Voice of America toured the facilities in the city of El Alto, to confirm the commitment expressed by the general manager, Sven Schilling, who assured that they will continue investing and generating jobs.

“We have that responsibility with the country, with society. It is important to continue contributing and for each one to give their contribution and even more so for us as a leading industry, that is the clear message because this project dates back many years and now we are very happy to inaugurate it and celebrate it,” said Schilling, general manager of INTI SA Drugstore

The secret magic of Mentisan “in the home of every Bolivian”

Mentisan is the most recognized product of the INTI Drug Store. It was created by a German in 1937. It is an ointment that has a mint smell and is used to relieve pain and fight colds, especially during low temperatures.

Its formula is a secret and it is consolidated as a 100% Bolivian remedy with export quality.

The medicine is prepared from camphor, menthol, petroleum jelly and other essential oils to which a powerful antiviral action is attributed.

“Mentisan is our emblematic product and we hope it can be in the home of every Bolivian,” he told the VOA Marketing Manager, Lara Schilling.

The closure of thousands of small businesses

Some 10,000 small companies closed in Bolivia in the first half of 2023, with which the sector reported a significant drop in sales, in addition to problems paying their debts to financial entities, according to statements from representatives of these businesses.

Added to this economic context are the pressures and criticisms of the Bolivian Workers’ Central (COB), which recently spoke out.

“Unfortunately, it must be said, the dollars have been taken by the businessmen, they have been taken away… not from now even, from past administrations and they have not brought back those dollars that have left the State, even under the investment of the government itself” said Juan Carlos Huarachi, COB executive.

The response from the Confederation of Private Entrepreneurs of Bolivia did not take long to arrive: “We reject the claim of the Bolivian Workers’ Central to hold private entrepreneurs responsible for the shortage of dollars or the increase in some food products,” the confederation indicated in a statement. .

“These problems have their complex causes and affect us all, especially producers, importers and medium, small and large companies,” the text added.

The president of the Federation of Business Entities of Cochabamba, Luis Laredo, told the Voice of America that Bolivia is not experiencing a context of normality because the shortage of dollars is affecting the business sector and demanded urgent attention from the government.

“We cannot accept that the government says that there is a normality or a kind of stability when dollars are missing in the market (…) We do not accept that they blame the export sector because the government is definitely the one that must provide the solutions to bring those currencies to the country,” said Laredo.

What does Luis Arce’s government say?

The president of Bolivia, Luis Arce, acknowledged at the end of May that there are “difficulties” in obtaining dollars, but denied that they are going through an economic crisis.

“Like several countries, we have certain difficulties in the availability of the dollar, but we are not in a structural economic crisis, as the opposition intends to position to generate a political crisis and shorten our mandate,” Arce said at a public event for the anniversary of a unit. military on May 27. The official discourse attributes the situation to speculation from private banks.

But emblematic companies in local investment, such as the pharmaceutical company INTI, affirm that this is possible with a lot of work and commitment.

“A project of this size, regardless of whether it is in Bolivia or not, is a very big challenge. We are happy because the warehouse is fulfilling its functions and making our internal processes more efficient and bringing the best quality products to the customer,” Schilling told the VOA.

At the same time, he invited the Bolivians: “We ask you to continue using our products, we are very grateful to always have your support, nothing would be possible without the trust you give us,” Schilling concluded.

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