Telephone companies find in Ecuador a niche for investment and development

Ecuadornews:

The business delegation that traveled with President Lenin Moreno to the possession of López Obrador met with important business groups. An intense investment promotion agenda was fulfilled in Mexico by the Minister of Foreign Trade,Pablo Campana, in the framework of the investiture ceremony of President Andrés López Obrador.

Campana met with representatives of 39 important Mexican companies with the purpose of publicizing the investment opportunities and legal security offered by the Lenin Moreno government.

In that sense, the Ecuadorian official met with delegates from the Bimbo group,owners of the company Supán, with whom the possibility of investing approximately $ 5 million in improving technology and sustainability of their production plants in the country was put on the table.

The Secretary of State also met with executives of Arca Continental, who have signed investment contracts in Ecuador for about $ 750 million. “We hope that in January the first stone will be laid for the new bottling plant in Machachi,” the minister said through his Twitter account.

In addition, he had a meeting with executives of PetroBal, a company focused on the exploitation of hydrocarbons, who would have confirmed their interest in participating in the bidding of oil fields in the country, as well as analyzing investments in the mining sector.

Campana highlighted the good relations between both countries that allowed, among other things, the elimination of the visa for Ecuadorian citizens who travel to carryout activities, such as tourism or education.

In addition, it is important for Ecuador to strengthen commercial relations with a view to reaching an agreement that allows access to the Pacific Alliance, an opening that is supported by the business sector of the Andean country.

Currently,the non-oil trade balance with Mexico from January to September is negative for Ecuador, with $ 589 million, according to figures from the Ministry of Foreign Trade and Investment.

However,it seeks to expand the presence of the main Ecuadorian products that reach that market, such as cocoa, extracts and vegetable oils and canned fish. The main imports that Ecuador makes of Mexico are automobiles, followed by electrical appliances and medicines. The Mexican investment in Ecuador totals $ 1,536million between 2008 and 2018. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/telefonicas-inversion-desarrollo-ecuador