New investments depend on one-stop shop

Ecuadornews:

The businessmen of the United States are encouraged to invest in Ecuador, but they ask that the paperwork that is in the country be solved. They have the feeling that to solve a problem, you have to deal with 20 people.

Since this is the main brake, Ecuador presented the project to implement a single investment window. The plan was appreciated by the North American investors, mainly because the Ecuadorian Government aspires to implement it in the new year.

María Antonieta Reyes de Luca, director of the Ecuadorian American Chamber of Commerce of Guayaquil, told Diario EXPRESO what US businessmen expressed at the meeting of the Trade and Investment Council (TIC) that was held in Washington days ago between businessmen and authorities of the two countries.

So the main requirement of American businessmen is that there is a single space to do the procedures virtually.

Reyes stressed that it is essential to integrate payments; if itis not done, the process would be damaged. With the single window of investment is to have the virtual part, but also the physical so that a single person can generate a contact with other government entities to solve a problem or to give way to a procedure. For example, streamline environmental permits that now take a long time.

They also ask for transparency, more control of contraband and ‘piracy’.

On the issue of smuggling they referred to the borders that areused to pass the goods, without paying taxes. This causes unfair competition with the company that complies with the labeling and pays all taxes.

Another point that came up is that they expect the investment regulations, they believe that this will give them more security, “by putting the cable to ground everything that the Law of Development says, it is known that the document is in the office of the president and they are expected to make it public soon. Because the investor is looking for security and legal stability, “said Reyes.

It is essential to understand that the US entrepreneur UU he likes to act as he is in the book or in the law. “They are very organized in that sense, they are very respectful of due process. For them, laws must be transparent and avoid discretion. They do not accept that a judge says how arule is applied according to their understanding, the law must be clear and precise. “

Reyes stressed that there is a lot of interest in investing inmining, manufacturing and tourism. But, it is also required that the information does not give it to droppers. “The US businessman like to be informed and transparent. It is not that after a few days he is told and I forgot to tell him that he must comply with these other requirements. “

By improving all this, the country will have several benefits:more investments, it will improve its score in the Doing Business ranking and will give way to a commercial agreement with the United States.

In addition to this will give competitiveness that is essential to take advantage of a commercial agreement as much as possible, which is only a tool and as such you have to know how to use it.

In meeting, one of the entrepreneurs spoke very well of the Ecuadorian broccoli, of its good quality. But, they buy other countries that donot have to pay tariffs and make the product more economical.

Another job that should be done indoors is to promote services and must map to know what is there.

For Amcham talks with US businessmen and believes that the single window of investment will be the war horse that will strengthen the capitals that are already in the country and will attract more.

Now all the government entities are expected to be aligned in the single window of investment.

The works

The ecosystem that attracts capital

The work of the mayors, of the prefects, are also fundamental, for example in the existence of good roads. There is a project of a businesswomanfor the Chanduy area, to invest in a resort. The first question that is being asked is what is the ecosystem they have. That is, to know if the area has potable water, have access, electric power and have trained people. Because if this is not the case, the investment will cost more to build what is necessary, so that basic services are not lacking, reveals Amcham de Guayaquil.

“This project, to crystallize, will benefit tourism and the country to obtain more foreign currency via travelers.”

‘Piracy’

Lack of intellectual property culture

“Many dollars are invested in the creation of a brand and it is logical that the US entrepreneur ask to protect intellectual rights. “

There is an intellectual property table that should address this issue. But in the country it is necessary to develop the culture of respecting creations and brands. It is essential to stop the imitations and for this you must understand the investment made by that company and the jobs depend on it.Within that, formality must be encouraged, which also includes respecting patents, not just paying taxes. “In this issue we must start working now,which should include training the judicial sector.” (I)

Source: https://www.expreso.ec/economia/nuevas-inversiones-economia-ecuador-tic-MH2494961