Government signed two investment agreements for the mining sector for $ 470 million

The Government of President Guillermo Lasso signed two investment contracts for the mining sector this morning. These are the Cangrejos project in charge of the Lumina company and the Cascabel project in charge of Solgold.

Both generate an investment of $ 470 million and will generate 2,000 jobs. This was reported by the Vice Minister of Export and Investment Promotion, Lorena Konanz.

The signing took place within the framework of the international event Ecuador Open for Business, which brings together representatives from 51 countries around the world and whose purpose is to attract investment to Ecuador. Lasso has ratified that the country’s objective is to attract private investment of around $ 30,000 million in four years.

Meanwhile, the first Cangrejos project foresees an investment of $ 35.6 million with a project in four concessions that will last 25 years, and that will be developed in the Santa Rosa de El Oro canton. While the contract for Cascabel, with a duration of 15 years, it amounts to $ 430 million. This second project, part of the world top, is located in Imbabura.

The firm was attended by the President of the Republic, Guillermo Lasso: the Minister of Production, Julio José Prado; that of Energy, Juan Carlos Bermeo and of course the representatives of the mining companies: the president of Lumina, Marshall Koval; and Andrew Tauton, Vice President of Solgold.

The President of the Republic thanked the investors, congratulated them and wished them much success. He also asked the attending investors to learn more about the country and fall in love with this wonderful land. He explained that the Government seeks to be a facilitator of the procedures and assures that it struggles with bureaucratic processes. “Many times the paperwork kills the dreams of investors,” he said.

On this topic, there were also announcements. Well, two decrees were signed for the creation of the National System of Attraction and Facilitation of Investments (Senafi) the Single Window of Investments (VUI).

Likewise, the Technical Secretariat for Public-Private Partnerships and Delegated Management is created. Lasso explained that in this way it is achieved that investors do not get lost in a sea of ​​paperwork and paperwork or travel from one building to another.

Likewise, the Secretariat will coordinate the institutions necessary to specify the investment processes. He commented that the Government seeks to streamline the processes, and therefore, for example, the preparation of the contracts signed in the mining field, have lasted two months, when what they normally took was two years. (I)