Bolivia promulgates Conciliation and Arbitration Law with regime for investor–state disputes
On June 25, 2015, Bolivian President Evo Morales promulgated Law No. 708 on Conciliation and Arbitration, approved by the Bolivian parliament with inputs from the private sector, academia and civil society. The law creates a Special Arbitration Regime for resolving investor–state disputes, particularly concerning strategic natural resources.
Bolivia’s Attorney-General Héctor Arce stated that the law guarantees the rights of both the state and domestic and foreign investors. President Morales added that “now no business sector can complain that Bolivia offers no legal guarantees or security.”