The Production Code, released in 2010, will be modified. Authorities and entrepreneurs agree that the legislation is not fulfilling all the objectives for which it was created. The impetus for private investment is an example.
Next week, industries representatives will hold a meeting in the framework of the Consultative Council for Production with the Coordinator Ministry of Production, Richard Espinosa, ministers and other officials. There, solutions will be found, for this, business chambers have some defined proposals .
Roberto Aspiazu, Executive Director of the Ecuadorian Business Committee, considers that one of the obvious shortcomings is that foreign investment in Ecuador does not have levels as Colombia and Peru .
In addition, the employer emphasizes that since the issuance of the Code, the investment has reached about $2,800 billion dollars. This amount correspond to strategic sectors. Almost $2,400 million dollars are earmarked for two projects, one of them mining, which is not supported in the legal body.