This afternoon The second day of appearances was held within the Economic Development Commission on the Investment Attraction Law. This day several representatives of the productive sectors attended, who generally said they agreed with the regulatory proposal, but also made some observations and contributions to reform the law.
During his appearance, Felipe Ribadeneira, president of Fedexpor, mentioned that the law allows public-private partnerships, free zones, a better stock market, digital transformation and regulatory improvement. For the entrepreneur, all these factors promote the generation of employment and economic development.
Carlos Loaiza, president of the Chamber of Commerce, agreed that these issues can boost employment and the country’s competitiveness. He explained how the creation of free zones has economically helped other countries in the region. For example, he said, in the Dominican Republic the contribution of free zones to GDP is 3.3% with a generation of employment of 172,000 places. Meanwhile, Costa Rica receives 7.9% of GDP from the free zones and generates 115,000 jobs.
In his exposition, Pablo Zambrano, president of the Chamber of Industries and Production, presented a series of observations on the law, especially with regard to PPPs. For example, he asked to eliminate the open standards that allow the definition of essential issues to be done by regulation or through the Ministry of Finance. He also asked that a double sustainability report not be required for a project that must be issued by the MEF, since the law requires these two reports at two different stages of the project. In the same sense, he indicated that the effects of declaring a private project desert should be in the law and not in the regulations.
Meanwhile, Gissella Montalvo, executive director of the Ecuadorian Chamber of Innovation and Technology, He pointed out that digital transformation is necessary, and assured that the inclusion of technologies in all areas of companies makes them competitive nationally and internationally. “These are opportunities that we have with new models and new industries to grow without limitations,” she said.
In the morning, the Stock Exchanges of Quito and Guayaquil issued a statement in which they made several observations to the law, especially with regard to the creation of the over-the-counter market. (I)
Source: Eluniverso
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