The Investment Law would arrive with an urgent economic nature, according to previous statements by the president and his economic team.
It is On Monday, the President of the Republic, Guillermo Lasso, would send, as an urgent economic matter, the Investment Law to the National Assembly. Official sources told EL UNIVERSO that “The Investment Law is almost ready and that the president could present it before his trip to China.”
The investment law is one of the three legal proposals in which the Government is committed and which were part of the Law Creating Opportunities, which at the time was rejected by the Assembly, arguing that it included several legal matters. The Government then decided to divide it into three laws. The first, an important tax reform called the Economic Development and Fiscal Sustainability Law, has already been approved and is in force.
The The second would be precisely that of Investments and the third is the labor reform, that the Government has said will be socialized before the interested actors and the country in general, before sending it to the Assembly.
The Investment Law would arrive with an urgent economic nature, according to previous statements by the president and his economic team.
A few weeks ago, the Minister of Production, Julio José Prado, had explained that the legal project contains two bodies. The first is related to the issues of public-private partnerships, where they have carried out reforms so that the Secretariat of Public-Private Partnerships, in coordination with the Ministry and the Vice Ministry of Investments, have all the facilities to attract more investment to public projects.
The second The body of the bill contains amendments to the Free Zone Law. For Prado, one way for Ecuador to attract massive investment is to generate a new modern and more open free zone scheme. The idea is that free zones are not created by bureaucratic will, but rather that they are living free zones that have an economic project behind them. According to the minister, the project has been based on the operation of free zones in Uruguay, Colombia and Costa Rica.
Among the important points of the law, which the Government has been announcing in advance, it was learned that An article will be included that provides for the sale of the concession lands to the shrimp farms. One billion dollars could be obtained from this decision, which will be allocated to a Fund to Fight Chronic Child Malnutrition.
From the Assembly, Fernando Flores, head of the CREO block, commented that the law is under review in the Executive and that the exact date of shipment is not yet known.
The attraction of investments is vital for the country so that fresh resources enter. In this sense, the Government, last year, held the international event Ecuador Open for Business, which offered a portfolio of projects for 30,000 million. Among them electrical, oil, telecommunications, transportation projects, among others.
The president travels to China next week to discuss trade issues and also the financing conditions of the debt with China amounting to nearly $5 billion.
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