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The Ministry of Finance justified the 15% increase in VAT, due to the million-dollar deficit in resources that the country is dragging and due to the need to solve ‘the state of war’. The Minister of Finance, Juan Carlos Vega, justified the proposal for a 15% increase...

President Daniel Noboa sent to the National Assembly an urgent economic bill to confront the internal armed conflict and the social and economic crisis. President Daniel Noboa sent to the National Assembly a new urgent economic bill to confront the internal armed conflict. This...

The National Assembly approved the Energy Competitiveness Law, Daniel Noboa’s second urgent economic project. With 131 votes in favor, the National Assembly approved the energy law sent by President Daniel Noboa and which seeks to put an end to power outages. President...

As a way to shorten cargo travel times, China launched a new maritime route to Latin America that will serve countries such as Mexico, Colombia or Ecuador. China promises a seven-times faster journey from Asia to Latin America, thanks to the launch of a new maritime transport...

The Ministry of Labor established a 2.2% increase for salaries and minimum wages in the private sector, starting January 1, 2024. Since January 1, 2024, the percentage increase for sectoral minimum salaries and wages in the private sector is 2.2% compared to 2023 salaries,...

The Galapagos ecolodge will be built between 2024 and 2025. It will have 35 rooms and will be located on San Cristóbal Island. The Ministry of Production and the company Galapagos Organic signed an investment contract for more than USD 15.7 million for the construction of an...

After a meeting with Cenace, the Ministry of Energy agreed that there will be no power outages in Ecuador at least until the first half of January 2024. After a meeting of the Crisis Committee, the Minister of Energy, Andrea Arrobo, announced on December 29 that power outages are...

New foreign trade tool is applied in trade agreements with the European Union, the European Free Trade Association (EFTA) and the United Kingdom. As of December 22, 2023, the figures of authorized exporter and invoice declaration came into force in Ecuador. This applies in trade...

A shipment of 17 tons of organic coffee grown in the Amazonian province of Zamora Chinchipe was exported to Italy. Ecuador exported a shipment of 250 69-kilo bags of Amazonian Arabica coffee, with organic certification, to Italy, the Phyto and Zoosanitary Regulation and Control...

One of the challenges of the new president of the IESS Board of Directors, Eduardo Peña, will be to face the liquidity crisis of the Pension Fund. Guayaquil businessman Eduardo Peña Hurtado will chair the Board of Directors of the Ecuadorian Social Security Institute (IESS),...