Government signed 905 agreements with private companies to boost production

According to the Ministry of Industry and Productivity, from January to September 2013 there was a deficit in the trade balance of $ 1,177 million dollars. This year a surplus of $ 581 million is recorded.

The state signed agreements with 905 private companies that are committed to generate more local quality standards. With this, the national industry accelerates its production by injecting capital.

Some of the companies supporting the productive matrix are Scalpi, Tecnova and Nestle. The first disposed of $ 1.5 million to increase the development of beauty products; the second, invested $ 16 million in August to double the production of Bosch batteries in Guayaquil; and the third, injected a capital of $ 17 million in June.

Until August business investment in the country was of more than $ 2,700 million dollars.

Early results indicate that the Ecuadorian manufacturing sector managed to increase domestic production by $ 475 million at increasing local purchases of $ 132 million and exports of $ 268 million, as explained by the Minister of Industry and Productivity, Ramiro Gonzalez, during the 396th weekly address, chaired by Vice President Jorge Glas.

Gonzalez stressed that the imports substitution has had a positive impact on non-oil trade balance with a savings of $ 1,726 million between January and September of this year, when they anticipated $ 849 million. He added that the domestic products that are on hangers increased from 87% to 93%.