“There is a lack of legal certainty in some areas, especially in the energy issue, which is where the reform is. We have already been discussing the reform for a year and a half and there is no clarity, so it continues to be a factor of uncertainty for the industry,” he said.
But among other obstacles that the bank sees ahead for investment is the issue of insecurity in the country.
“We are looking at an opportunity cost. There is a great opportunity to bring in many more investments due to this lack of clarity, especially in the electricity sector. There are other industries where the rules are clear,” said Lira.
The banker said that the sustainable agenda should not be left aside, since foreign companies are increasingly taking this factor into consideration. Once this is resolved, there will be a boost for the country.
While the electricity reform is being discussed, Sabadell is taking advantage of the fact that the sector is growing 15% and it is estimated that it will continue in double digits due to the increase in the cost of inputs.
As the COVID-19 pandemic brought changes in the way people consume, Sabadell turned the wheel and, betting on the profitability of the business, stopped making alliances for consumer credit, such as those it had with Fintonic and Movistar.
“We are no longer doing it, it is a business that in the long term gave a very good return but you need a lot of investment, those businesses had not reached maturity and we decided to stop it,” he said.
