The local industry foresees an investment of $ 2,000 million

Ecuadornews:

The businessmen are waiting for the regulation of the Law of Productive Development to place fresh resources and take advantage of the tax benefits provided by law.

Within the next 15 days, the Ministry of Finance plans to issue the regulations for the application of the Productive Development Law, which among other things will establish guidelines for channeling new investments.

This secondary norm is expected by the businessmen interested in injecting fresh resources into the country and in exchange for important tax incentives. The national industrial sector expects an investment of around $ 2,000 million in 10 provinces, through the companies that make up the National Federation of Chambers of Industry.

This was stated by Caterina Costa, president of the Chamber of Industries of Guayaquil, at the Investment Promotion Forum held on Thursday, October 4 in the main port.

“There is a very interesting diversity in the food and beverage, energy and pharmaceutical sectors,” explained Costa, and highlighted the opportunities that exist in the special zones of economic development (ZEDE) in the Espol and Posorja.

The productive investments that are generated in Quito and Guayaquil will be exempt from the payment of the Income Tax (IR) for 8 years. Outside these cities the benefit extends to 12 years and in the border areas the exemption will be for 15 years.

They can be accepted during the 24 months following the publication of the law in the Official Gazette (August 21, 2018). The Chamber presented the Center for Investment Benefits that will help to take advantage of the current tax and non-tax benefits.

It will have tax specialists, labor and foreign trade, who will advise for the person to identify and decide where and when to invest. (I)

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