The Strategic Committee of Promotion and Attraction of Investments, created at the end of December of 2017 by Executive Decree, finalizes the details to deliver to the President of the Republic, Lenin Moreno, a bill.
The objective is to promote the attraction of resources to the country. “We work on a bill for the benefit of direct private investment, the dynamism of the economy, the strengthening of dollarization and the generation of employment sources,” said Minister of Foreign Trade, Pablo Campana.
The official said that this initiative will be delivered to the Head of State on February 20. He said that this bill involves the hydrocarbons, mining and agricultural sectors. The latter in regard to the Banana Law. “We are evaluating the stock market that in recent years has not had good results in the country and, on the other hand, the export of services.” The official participated yesterday in the First Ecuador-United States Trade and Investment Forum. He stressed the importance of signing a trade agreement with the United States.
In this same space, the US ambassador to Ecuador, Todd Chapman, reiterated Washington’s interest in an agreement. However, he stressed that it must have a reciprocal character with an emphasis on intellectual property.
He stressed that US businessmen and investors are looking for Ecuador to have stability, legal certainty, compliance with laws and a low country risk index. The diplomat mentioned the need for bilateral investment treaties. Campana informed that, with the Foreign Ministry, they are working so that in the next 30 days the country will be ready to negotiate the 16 treaties that were denounced by the previous government. The minister added that he will propose to the Executive that the Exit of Foreign Exchange Tax (ISD) not be taxed, to the new investments that enter the country. (I)